Is it worth getting a depresciation schedule done?

[zayne]

Hi guys,

Just wondering if anyone can tell me roughly how much depreciation I would get on a 2 bedroom apartment built in the mid-late 70's. Building depreciation wouldnt apply due to the age. No renovations have been done to it and it is in pretty average condition. Thoughts?

Thanks in advance.

 

[depreciator]

Maybe $1,000 in the first year.
Probably not worth paying somebody to inspect.
If you've got some photos you can send me I can work out the best way for you to tackle it.
Scott

 

[Yerfdog]

How long have you owned the property for? If you have already it for a while, it worth every single cent IMHO.

My accountant back dated 3 years deduction for me for my first IP, which I didnt know about DS back in those days. A sweet $3k cheque post to me within weeks from ATO.

Plus, most of the QS provided guarantees, an example statement:

If XXXX inspects an investment property and does not assess the depreciation entitlements to an amount at least double our professional fees in the first full financial year, we will refund the fee charged and provide the report for FREE.

So why not?!

 

[zayne]

Thanks guys. Much appreciated.

 

[jingo]

Hi guys,

Just wondering if anyone can tell me roughly how much depreciation I would get on a 2 bedroom apartment built in the mid-late 70's. Building depreciation wouldnt apply due to the age. No renovations have been done to it and it is in pretty average condition. Thoughts?

Thanks in advance.

I own a similar property (also in Melbourne) and just had a report prepared. Can claim $3,388 in the first year using the diminishing value method.

Regards Jason.

 

[Stevenjames]

Hi Zane

I was emailed this link to use the other day.

http://www.washingtonbrown.com.au/calculators/

Im not sure how to do the auto link thingy

But the dep calculator helped me worked out what u want to know

 

[Stevenjames]

hehhe

I obviously worked it out...!! It did it for me.

This thing must be smarter then i thought

At least i can do the smiley things on the right hand side

 

[suebris]

Thanks for the link, just about to post a question but this provides the answer.
thanks for sharing - not up to adding a smiley yet though!

 

[voigtstr]

Maybe $1,000 in the first year.
Probably not worth paying somebody to inspect.
If you've got some photos you can send me I can work out the best way for you to tackle it.
Scott

Hi depreciator, do you do Tassie as well? We are waiting on the contract to settle for a 1983 house, with renovated kitchen and bathroom. We are planning on renting it for 2-3 years, before moving into it ourselves.
Its a tidy 3 bedroom brick house with separate garage. Roughly how much would it cost to get an inspection, and is it worth if only doing it for 2 years?

http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=19417322&s=tas&tm=1218437632