3. Depreciation of fixtures and fittings won’t be available because the house is not new. Only building works could be claimed.

It could still be lucrative, though. Have I missed above anywhere where it says how old the building is? Deductions from depreciation could still be in the thousands p.a. for quite some time.

• This reply was modified 6 years, 4 months ago by  Chris.

Codie wrote:

Build cost is $341k.
Reasonably mid to high level build.

Those figures of 27k are from a simple phone conversation- someone’s opinion.

Codie wrote:

Im yet to speak with BMT and have an appointment with my tax accountant tomorrow, although I need to find a different one that actually owns property and better understands what we are trying to achieve..

Hi Codie,

I saw your post and it interests me. I’m going to have to step in and say that I agree with some opinions already given: $27 000 in first-year depreciation seems a lot for a build cost of this size. I would estimate more in the realm of a bit over half that. Maybe think more in a window of $12 500-$15 500, the lower end of that window being quite conservative.