Is it worth getting Quantity Surveyor for old house

[eggnog]

With a depreciation life of 40yrs for tax deductions on capital, is it worth forking out $600 to get a quantity surveyor in on a house that is over 40yrs old. Would there be any tax deductions available and would it justify the payment

Thanks in advanced

 

[BoatBoy]

It depend's.

We have as part of our mix 3 old Qld'ers that were reno'd just before we got them.

They have quite a good depreciation schedule in place.

It suprised us.

BB

 

[jacer4]

Washington Brown offer that they will save you at least twice the cost of their fee in the first year, or the report is free..so its worth a go..

 

[MarkB]

You can still depreciate the fixtures and fittings , irrespective of the age of the property.

M

 

[Bullfrog]

We've just bought an old place in Elizabeth about 40yrs old. Not much had been done to it but our schedule has come back that we'll get $2700 this yr and I've only had it a month and almost $4.5k next yr. I'd say its worth it.

Regards Bullfrog

 

[depreciator]

If you've got photos, most reputable suppliers will give you a ballpark depreciation estimate so you can make a decision. We do that all the time.
Scott

 

[tonyc00]

Hi

I've have several old (40years+) properties and I have used the Tax Shield self assessment report. It costs under $300 and it is acceptable to the ATO.

See the website.

Tony

 

[WashingtonBrown]

Washington Brown offer that they will save you at least twice the cost of their fee in the first year, or the report is free..so its worth a go..

Thats correct - Hard to go wrong!!

Regards