I’d devote a whole newsletter to depreciation.

Tax Depreciation Schedules
Australia wide service
1300 660033
scott@depreciator.com.au
http://www.depreciator.com.au

Best idea to get a considered response may be to give a bit more info.
Where is Ouyen?
How big is it?
Is it a single industry town?
How has the population (number and demographic) changed over the last few years?
etc, etc.
Of course the obvious question is why are there so many houses at that price available in that town? Who is bailing?
In other…[Read more]

It’s good that they’re going to meet. Make sure it’s in daylight. You might get a bit knocked off the bill.
Scott

Tax Depreciation Schedules
Australia wide service
1300 660033
scott@depreciator.com.au
http://www.depreciator.com.au

Demo guys tend to be pretty cavalier – that’s a nice way of putting it.
If they did what was asked of them i.e. clear the site, and the fence fell down a few days afterwards, forget it.
As for compacting the soil, if you specifically asked them to do this, they should have done it. I’m guessing you didn’t specifically request it.
Demo guys come…[Read more]

‘Hard landscaping’ – concrete paths, retaining walls, paving etc – are depreciable. ‘Soft landscaping’ – plants, turf, dirt – aren’t.
Scott

Tax Depreciation Schedules
Australia wide service
1300 660033
scott@depreciator.com.au
http://www.depreciator.com.au

Thanks Wayne.

Yes, we have great systems, but we haven’t found a way to eliminate people from the process.

On any one job there may be an accountant involved, a client, a tenant, a property manager, a QS and our in-house staff.

There are lots of points where a job can go off the rails. And about one in every hundred do. Usually, we get them…[Read more]

Just curious, Rhett. Did you attend a seminar in London and buy that apartment? I know there was a group flogging Melbourne apartments at seminars over there. Quite a few expats bought them.
You’re probably as much a victim of the market as the developer. If the market was still booming, you may be sitting on a profit and be congratulating…[Read more]

I couldn’t come down quite that low. Quantity Surveyors are expensive, but that’s the way we run the business. June 30 should’t be a problem if there are no access issues.
I’ll send you an e-mail regarding price.
Scott

Are Quantity Surveyors worth it? Depends largely on the age of the property and the projected return.
Of course, you’re aware that some companies don’t use Quantity Surveyors to carry out inspections. Best Practice’ from the AIQS (Australian Institute of Quantity Surveyors) perspective is for a QS to visit the site and for a QS (ideally the same…[Read more]

Of course I love June because that’s when we have lots of people calling up to pay for their Tax Depreciation Schedules as they can can claim the cost of the schedule back in July as a 100% deduction.
Scott

Tax Depreciation Schedules
Australia wide service
1300 660033
scott@depreciator.com.au
http://www.depreciator.com.au

Hi Paul,

Read carefully what I said:

So that 10 year old air conditioner needs to be given a ‘written-down value’. Using the effective life is one way of doing this, but it may not be the best way from your perspective.

So, what would be the best way from your perspective? Let’s say you buy today a 20 year old home unit. In the kitchen, is a…[Read more]

Despite my best efforts of explaining things to them very slowly, journos keep getting things half right. Sigh.
Here we go again:

1. It’s only depreciation claimed on the building that impacts upon the capital gain. Depreciation claimed on the fixtures and fittings doesn’t come into it.

2. So if you have claimed, say. $10,000 in building…[Read more]

Hi Paul,
I’m a little bit confused about what you’ve got from the QS.
Surely the QS has given you a report that tells you what you can claim for the next 10-20 years or so? If you’re having to work out this, he’s only done part of the job. Hope it didn’t cost much.
He would have put a construction cost on the building itself at the time it was…[Read more]

Jen,
Neale is right. The product should essentially be the same. The rules are pretty clear, and we follow them.
When it comes to estimating construction costs, inspection by a Quantity Surveyor is Best Practice according to the AIQS (Australian Institute of Quantity Surveyors). The ATO also obviously prefer this, though it’s not their place to…[Read more]

Hi Tim,
The appropriate weekly rent for a property would be largely dictated by the market i.e. what are tenants willing to pay for similar properties in the area. Talk to some property managers in the area.
Scott

Tax Depreciation Schedules
Australia wide service
1300 660033
scott@depreciator.com.au
http://www.depreciator.com.au

As jhopper said, this method of construction is common in commercial buildings. Most small warehouse/factories these days are built from ’tilt-up’ slabs. They are delivered to site, craned in, tilted into place and braced. Then a roof is bunged on. Easy. And very fast. There would be standard sizes, or I’m sure particular dimensions can be…[Read more]

I’m just putting a lime green benchtop in my PPOR – fashion is so cyclical.

There are products you can use to paint over laminate. Try the White Knight brand. They’ll have something. You’ll find them in specialist paint stores and larger hardware stores – like Bunnings.

New, white doors won’t cost much, though. Get them done in melamine with a…[Read more]

There is someone on Somersoft who has invested in Moree. Post there and they may share their experience with you.
Scott

Tax Depreciation Schedules
Australia wide service
1300 660033
scott@depreciator.com.au
http://www.depreciator.com.au

Yes Anibus, I’ve been watching that one inching up. Our office isn’t far away. I’m hoping the bits that extend beyond the old church structure don’t overwhelm it. It’s one of those developments with a difference and in a pretty good spot.

Kay, one thing Marrickville lacks that Glebe has is the student population.
The local council did something…[Read more]

Robert I fear people like me are becoming the dominant culture. I much prefer the Greeks and the Vietnamese to people like me.

The Greeks are getting old – many came over in the 50s. Their children don’t want to live in Marrickville, a ‘wog’ suburb.

The Vietnamese tend to move further west when they buy, though many of the local businesses are…[Read more]