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  • Profile photo of biltongboerbiltongboer
    Participant
    @biltongboer
    Join Date: 2011
    Post Count: 4
    July 27, 2011 - 12:40 am

    Thanks, it's starting to make sense.  What you're saying is you can claim more deductions earlier if part of the original cost was allocated to depreciating assets instead of building (CWD) at 2.5%

    Now – If I already filled in my tax claim for last year, can I still change it after I already entered the whole cost under the building's Capital Works Deduction?  (I did not use an accountant, did tax myself, which is probably why I'm struggling with this now…)

    Profile photo of biltongboerbiltongboer
    Participant
    @biltongboer
    Join Date: 2011
    Post Count: 4
    July 26, 2011 - 10:47 pm

    Nope, this is a new building, that's why I'm confused, as the building contract states the building value, and I did not pay for any stand-alone items, as they were included in the building contract, but values were never specified

    Profile photo of biltongboerbiltongboer
    Participant
    @biltongboer
    Join Date: 2011
    Post Count: 4
    July 26, 2011 - 1:54 pm

    OK, so what exactly does this mean:

    "The worst thing you can do is cross collaterise your home with your investment property"

    I have no idea what this guy just said? 

Viewing 3 posts - 1 through 3 (of 3 total)