Ive read that if the property was built after 1987 its can be available to be depreciated still at 2.5% a year?. And if it was built 1985 to 1987 its can be available for a 4% depreciateion claim. Can anyone confirm if they know this is the case?
Thanks
I’m not quite sure of the dates but the size of the numbers is correct. You might want to get a coy of the May 2006 edition of Australian Property Investing as there is an article in it regarding building depreciation, what you can allow for tax purposes and the pitfalls.
Mum
This is correct – to be precise the dates are
From the 18-7-1985 to 15-9-1987 the allowance is 4%. The relevant date is the commencement of construction in order to qualify.
If you go to our website http://www.washingtonbrown.com.au and download the brochure…you have it mapped out for all different property classes.
Now these dates only are relevant to the building alowance….
Regards
Tyron Hyde
http://www.washingtonbrown.com.auAt the 4% depreciation rate, the property would only be able to be depreciated for 25 years – is that correct? Is the depreciation only applicable to property built for investment purposes? What would happen if it was a PPOR back in 87?
Thanks,
Mark.
Hi Mark
Yes the depreciation will only last 25 years in that case. In terms of whether the original intention has to be an investment property…
You must know more than the average punter!…This was the case many years ago but was changed. It is not the case now.
It would be impossible know what the original intention of that ownnership was in 1987.
IF u r interested in 4% allowances etc….
Have a read of this article i wrote for the Australian Property Investor Mag.
http://www.washingtonbrown.com.au/news_story8.htm
Regards
Hi Tyron,
Good to hear I’m on the right track and have been reading the right books. Still got a whole lot more to learn though.[biggrin].
Thanks for the article. Might have to read it a few more times to make sure it sticks, but I’m sure I won’t be the only one to get something from it.
Have a good one,
Mark
I have adobe acrobat reader but couldn’t open the link …is it just me??
I presume its about short term acommodation?
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow Calculatordownloaded v 7..alls good now
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHope you both get something out of it!
We are about to release some exciting newsworth stuff…so i hope you have both joined the subscription section.
Regards
Tyron Hyde
http://www.washingtonbrown.com.auYup…… Looking forward to it.
Regards,
Mark.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
