Investment Property built mid 1985

[scott]

I am looking in an area for an IP and most of the houses had been built in 1985. My question is how do you accurately determine building commencement date for the 4% depreciation. I have spoken to local council whilst helpful they cant tell exactly when a house was built only inspection dates.

One employee said first inspection date is after the slab was done another said that the first inspection date could be checking out the vacant block prior to turning the first sod. Any ideas?

Scott

 

[geoffw]

A quantity surveyor will give you information. There are rules as to when a building actually did commence- the QS will be aware of those rules, and will be able to give you a date.

Even if you don't fit into the start date, there are probably depreciable items which will make it worth what you pay.

 

[scott]

thanks

Thanks for the info

Scott