Repair Cooktop or Replace with New at Investment Property

[Rhinsor]

Hey all,

On the ceramic cooktop on my new IP the biggest plate does not heat up.
I knew this before buying but I can not decide whether it is better to replace or repair from a tax point of view.

A new cooktop is $359 and repairing would be a few hundred. $0 to install.

I'm thinking getting new and write the old one off on the depreciation schedule I'm yet to get. Guessing the current cooktop is over 20 years old.

What are your thoughts?

 

[Paul@PFI]

So the cost impact is similar. Murphy's rule says if you repair it the element will blow and the glass door will crack and later be more expensive than the replacement option.

AIts like using second hand parts - You wont save $

Get the write off done and the new replacement on the QS report !!!

 

[EN710]

No brainer if new cooktop is $359, get a new one in and you have a shiny new one with warranty.

 

[wylie]

Definitely buy new rather than fix a 20 year old one, especially seeing the price difference is not much.

 

[Rhinsor]

Great, just ordered a new one, should be here Thursday.

 

[sanj]

How is it $0 to install?

 

[syba]

How is it $0 to install?

Either 2 options:

1. He is an electrician and can do it himself
2. Many cooktops nowadays have a plug in connection rather than being hard wired so it's just a matter of unplugging the old, loosening the mounting screws in the old cooktop and doing the reverse to the new cooktop.

 

[Rhinsor]

Either 2 options:

1. He is an electrician and can do it himself
2. Many cooktops nowadays have a plug in connection rather than being hard wired so it's just a matter of unplugging the old, loosening the mounting screws in the old cooktop and doing the reverse to the new cooktop.

Current one is plug in & I do have a mate who's an electrician.

 

[BMT Tax Depreciation]

I'm thinking getting new and write the old one off on the depreciation schedule I'm yet to get. Guessing the current cooktop is over 20 years old.

What are your thoughts?

Ryan, if it's not too late it might be helpful to have a couple of good pictures of the original unit if you haven't already got it on a depreciation schedule. It may help whomever provides the eventual report to give it a good value.