Cheers Wunderbar. All good advice...
Re chattels, will most definitely get this listed.
No, it's not and why would you want to do this?
How about you actually
pay for some advice (what a novel idea!) and consult your Accountant before you go doing something you later can't undo?
Chattels should be a separate Bill of Sale. You can't borrow against chattels and including them in a Contract will most likely (a) incur Stamp duty and (b) make not the slightest difference to depreciation.
What you could do is pay (there's that word again!) for a Depreciation Schedule which will list everything possible which can be depreciated, set a handover value and provide you with a document acceptable to ATO.
We own commercial property and believe me, commercial property without a lease will mean putting up residential property as collateral security. Commercial property with no tenant is
Terra nullius as far as lenders are concerned.
Paying for advice is always worth the money. You have someone you can hold accountable if their advice is wrong, and you relied on it.
Signing a Contract for residential property is one thing, signing for commercial without seeking professional advice on all matters to do with the deal is amateurish in the extreme.
Good luck!
Kristine
Oh, and with regards to fees with banks or with broker. What rot. Any broker with commercial accreditation is paid in the normal way ie the lender pays the aggregator for the introduction. I have just in increased one of my commercial loans, and believe me, commercial loans cost money. My loan is sitting at 9.75% and that is with a major bank, plus quite a few dollars in establishment fees, and a $750 annual fee just for the sake of it.
It's called 'playing with the big kids' and the big kids play hard.
For heaven's sake, go and pay for some advice.