Hi All,
Thanks for the help earlier. I have a separate 130k construction loan setup for the granny flat. GF is almost finished n my broker will keep a separate loan account for GF, which he has setup interest only... also will have a separate personal account, where only GF rent would go...
so hopefully for my accountant this setup would be easy to work out income/cost EOFY.
now I do need a deprecation schedule for the newly build GF right. I am mostly going with depreciator from the forum. they all say that being a totally new build , they can make one up using...building contract and approvals..
I live in the front house and its a Prop for now. I know capital gains will be affected in future, but hopefully don't plan to sell this home..
anything else I should do or have missed any steps for right setup.
regards,
somerhut
Thanks for the help earlier. I have a separate 130k construction loan setup for the granny flat. GF is almost finished n my broker will keep a separate loan account for GF, which he has setup interest only... also will have a separate personal account, where only GF rent would go...
so hopefully for my accountant this setup would be easy to work out income/cost EOFY.
now I do need a deprecation schedule for the newly build GF right. I am mostly going with depreciator from the forum. they all say that being a totally new build , they can make one up using...building contract and approvals..
I live in the front house and its a Prop for now. I know capital gains will be affected in future, but hopefully don't plan to sell this home..
anything else I should do or have missed any steps for right setup.
regards,
somerhut