Hi guys
I bought my first investment property last month (yay!!!
) and got a Tax depreciation report done on it.
Then I did renovations like new carpet, new bathroom, lights etc.
I then got a Tax depreciation report done again.
I was expecting them to revise the old one, but instead I got a new one which I assume to be used in addition with the old one.
So my question is, were they supposed to revise the old one for me? My understanding is that now some items from the old one can be written off straight away (like the old carpet for eg), am I right? Or will I or my accountant have to work it out ourselves?
Thanks in advance!
I bought my first investment property last month (yay!!!
) and got a Tax depreciation report done on it.Then I did renovations like new carpet, new bathroom, lights etc.
I then got a Tax depreciation report done again.
I was expecting them to revise the old one, but instead I got a new one which I assume to be used in addition with the old one.
So my question is, were they supposed to revise the old one for me? My understanding is that now some items from the old one can be written off straight away (like the old carpet for eg), am I right? Or will I or my accountant have to work it out ourselves?
Thanks in advance!
