Hi SSers,
I've recently purchased an investment property. It's been leased since 4/6/2015.
I am thinking to get depreciation report for it. I've been told that i can only claim:
1-cost of the report itself
2-depreciation for the duration 4/6/2015 (first day of lease) to 30/6/2015 (end of FY)
Regarding 2, would there have been much depreciation occurred in 3 weeks that could cover cost of report itself ?
For example: if for whole year, the depreciation amount is $3k, for 1 month it would be $3k/12=$250 (not much ???). Is it how this works ?
It's pre 1985 built house but renovated completely.
Please respond so that i can quickly make up my mind and arrange depreciation schedule.
Thanks a lot in advance !!!
I've recently purchased an investment property. It's been leased since 4/6/2015.
I am thinking to get depreciation report for it. I've been told that i can only claim:
1-cost of the report itself
2-depreciation for the duration 4/6/2015 (first day of lease) to 30/6/2015 (end of FY)
Regarding 2, would there have been much depreciation occurred in 3 weeks that could cover cost of report itself ?
For example: if for whole year, the depreciation amount is $3k, for 1 month it would be $3k/12=$250 (not much ???). Is it how this works ?
It's pre 1985 built house but renovated completely.
Please respond so that i can quickly make up my mind and arrange depreciation schedule.
Thanks a lot in advance !!!