Hi one of my IP was purchased in 2008 (built about 1985/6), and I have only done depreciation schedule through BMT on it this year.
In the summary of the schedules -
1. they present diminishing value and low value pooling method - and provided annual depreciation estimate from 2008 to 2047 (40 yrs) -justification provided
2.With division-43: they provided annual write-off provision from 2008 - 2017 (based on improvement done on the house between 1996-2002)
I normally use e-tax for our tax return (and unfortunately may have missed some claims), and almost completed my claim for 2012, except I am not sure how to use the depreciation report.
My question:
Given that I am now in the 4th year after purchase; and the depreciation scehdule provided 40 yrs projection from the date of purchase, how many years of depreciation provision I can claim back in the current financial year?
I would really appreciate a response.
ta
MKP
In the summary of the schedules -
1. they present diminishing value and low value pooling method - and provided annual depreciation estimate from 2008 to 2047 (40 yrs) -justification provided
2.With division-43: they provided annual write-off provision from 2008 - 2017 (based on improvement done on the house between 1996-2002)
I normally use e-tax for our tax return (and unfortunately may have missed some claims), and almost completed my claim for 2012, except I am not sure how to use the depreciation report.
My question:
Given that I am now in the 4th year after purchase; and the depreciation scehdule provided 40 yrs projection from the date of purchase, how many years of depreciation provision I can claim back in the current financial year?
I would really appreciate a response.
ta
MKP