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From: January Smith


Is the stove / oven considered part of the fixtures and fittings of a property. I have a contract of sale which lists a dishwasher for example but not the stove.
Thanks for your help.
 
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Reply: 1
From: Lotana Von Amor


If the stove is built-in it cannot be depreciated as "fittings" but rather will contribute to a building write-off depreciable at the rate of 2.5% pa (for residential investment properties built after 1985). If however the stove is of a stand alone type, it can be depreciated at the appropriate rate based on its expected life span. My guess is your dishwasher is probably stand alone but the stove is not.

Say cheese,

Lotana
 
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Reply: 1.1
From: Asy .



Hi January,

you asked:

"Is the stove / oven considered part of the fixtures and fittings of a property. I have a contract of sale which lists a dishwasher for example but not the stove. "

This sounds like a purchase question rather than a tax question, I hope I'm right!

Yes, the Stove/oven is commonly assumed to be a fixture, and thus must stay when the property is sold.

Be careful saying "Fixtures and fittings" it is only the Fixtures that must stay when a property is sold. Fixtures are taken as being anything which cannot be removed without damaging the property. This is why the dishwasher is sometimes written in to the contract of sale, they are usually removable without damage. It is a debatable point whether some fittings are fixtures or chattels.

All chattels (removable property of the vendor which will pass with the sale) must be noted on the contract, otherwise the vendor is under no compulsion to leave them.

anyway, I hope this helps a little.

asy :eek:)

"Don't forget what happened to the guy who suddenly got everything he ever wanted...
He lived happily ever after.
(Willy Wonka).
 
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Reply: 1.1.1
From: Jas


On 9/24/02 7:13:00 AM, Asy . wrote:
>Be careful saying "Fixtures
>and fittings" it is only the
>Fixtures that must stay when a
>property is sold. Fixtures are
>taken as being anything which
>cannot be removed without
>damaging the property. This is
>why the dishwasher is
>sometimes written in to the
>contract of sale, they are
>usually removable without
>damage. It is a debatable
>point whether some fittings
>are fixtures or chattels.
>
>All chattels (removable
>property of the vendor which
>will pass with the sale) must
>be noted on the contract,
>otherwise the vendor is under
>no compulsion to leave them.

Many times I've looked a contract over and seen many things not listed. Whether its carelessness on the part of the agent/vendor, or they are trying something on I don't' know. I just make notes of the things I want and add it into the contract. This includes a place I bought partially furnished. I added in the table, chairs, washing machine, dryer & fridge. In that case, the vendor hadn't been inside the property in so long, she didn't know they where there. So I now rent out a partially furnished place (at no extra cost to me) for higher rent.

Have fun
Jas


----------------------------------
When facing a difficult task, act as though it's impossible to fail. If you're going after moby dick, take the tartar sauce
 
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Reply: 1.1.1.1
From: Will G


It is common sense for the vendor NOT to include a dishwasher in the price of the house. This gives the vendor some further bargaining power.
 
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