URGENT! - Depreciation Schedule Question

Hi,

I havent yet organized my depreciation schedules for my two IP's and im getting very nervous becuase im worried if i dont have this i wont be able to claim depreciation on the building.

I am a newbie to the depreciation side of investing as i have acquired both properties within 12 months (one being a PPOR for 8months of the year)

One if the key reasons i havent organized the paperwork is i am missing some information off the depreciation schedule paperwork (Deppro) this being 'land value/unimproved capital value' i spoke with Deppro and they told me it is against Victorian privacy laws for them to access such information themselves and i would need to find them out myself - they told me i will be able to find such information in my 'section 32' or on my first council rates - both didnt have this information.

Can sombody help me? If i dont get this through in time does it mean i cant claim depreciation on the property???
 
I'm pretty sure you can claim back to your settlement date, so no hurry if you don't have it done by the time you do your tax your accountant can probably do an adjustment to your tax return.

Others may correct me if I'm wrong ...
 
Yep, don't panic. You'll jyst need it done before you see your accountant.

I'm not sure what this is all about:

One if the key reasons i havent organized the paperwork is i am missing some information off the depreciation schedule paperwork (Deppro) this being 'land value/unimproved capital value' i spoke with Deppro and they told me it is against Victorian privacy laws for them to access such information themselves and i would need to find them out myself - they told me i will be able to find such information in my 'section 32' or on my first council rates - both didnt have this information.

Seems like hard work to me. They are inspecting the place aren't they?

Scott
 
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