New Security Door - Depreciable or not?

Discussion in 'Accounting and Tax' started by mark213, 21st Feb, 2011.

  1. mark213

    mark213 Member

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    All

    Probably been asked before and I think I know the answer just wanted a check

    Tenant has asked for a security door on the front of the house. We think its ok to have, but wanted a quick answer on depreciation. We have a schedule in place for the house, but as this is a new item is it classed at 100% (or is a maintenance item) or is it at some other rate?

    Assume the accountant can do or does it need to back to my depreciation company - i used Depreciator.

    The door cost is about $1000 installed

    Cheers
     
  2. depreciator

    depreciator Member

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    Sadly, a security door is regarded as 'building' i.e. 2.5%. So that's $25 per year coming back. But looking on the bright side, it will keep coming for 40 years.
     
  3. mark213

    mark213 Member

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    Thought so thanks guys

    Do you need to "re-do" the schedule if its just this one improvement, once we decide to go ahead?

    Thanks

    Mark
     
  4. depreciator

    depreciator Member

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    If it's one of our Schedules, we amend them free of charge usually. I don't think other companies do this. Or just tell your accountant what you did, what it cost, and when you did it.
    Scott