Hi All,
Just have a question regarding Depreciation Schedules, I have never had one made so have been out to get some quotes. The quotes have varied quite considerably thus far,
but the question is: Do I just go for the cheapest one or is there really a difference between the type of report you receive? I have chosen to go with what seems the larger companies for my quotes thus far.
If you have some examples of reports which weren't up to standard, that would be good to hear aswell,
Thanks in advance
Shivasko,
There really is a difference. I've seen anything from a one page spreadsheet to a full, comprehensive multi page report.
Different companies will give you different amounts of depreciation as well, so the higher it goes, the more comprehensive you should – helps if the ATO asks any questions, you have a solid details to go off rather than a cheap spreadsheet.
Reputation means a lot, so depending on where you are, I'm sure someone on the forum could recommend who is best in your area.
FS
Thanks for your Reply FinSpec,
I am in the Latrobe Valley area (Morwell) in Victoria,
If anyone has had one done in that area could you please let me know who you went it and if they were any good. Otherwise if there are any national ones you would advise that would be appreciated (not many seem to want to go down to the Morwell area either becuase of the travel costs,
Shivasko
I recently had a depreciation report done for a property which we bought in Launceston by Washington Brown. As we had just bought the place we had nothing to provide them with in regard to receipts or dates of purchase of items. 3 or 4 weeks later we recieved a comprehensive 14 page document with 11 or 12 depreciating items(which I thought was good for a basic 3 Bedroom) containing a schedule for both diminishing value and prime cost as well as a year end summaries.
Was very detailed and they are national so would be able to do Latrobe Valley as well. At the time I was overseas and when I returned I done my tax and had a question, I contacted them and they responded within a couple of hours
We had one done by Catalyst for a property in Gippsland. Report is very thorough
Corpred has done a really good job for me in melbourne.
They want payment made first before visiting the property, but turned out to be fair dinkum.
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