This isn’t ‘advice’, but it may answer your questions.

First up, you’re ineligible for depreciation on the building (unless it has been renovated after Feb 92).

So that leaves you with the Fixtures and Fittings.

They may total $4,000 in value and you would be able to claim most of that in the first 3-4 years by using the Low Value Pool.

Of…[Read more]

Hi Melb,
It may indeed be questionable whether you will get sufficient depreciation to justify the cost of commissioning a schedule. Much depends on the quantity/quality of Plant items (AKA Fixtures and Fittings) e.g. carpet, stove, air con etc.
I’m in the office most of today and most of tomorrow. Feel free to give me a call and we can chat about…[Read more]

I use a guy called Peter Lang (PLA Management) at Edgecliff.

His business partner (Maria) does a fair bit of property work.

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

Coincidently, I went past the Wolli Creek development yesterday on the way home from the airport. There is another building going up – scaffolding up to four or five levels so far. I’m not sure how high this one is going to be, but there will be some people in the already completed blocks who will be losing their views. Buyers would have been…[Read more]

I’m not sure whether the reality of that area is quite living up to the ‘vision’ yet. I haven’t seen any marketing material for the development, but I can imagine it – people riding bikes in expansive parkland, families frolicking on the banks of the creek, that sort of thing. That creek is probably cleaner than it was, but the only thing that…[Read more]

Hmmm.

I reckon you’d get a few different answers if you called the ATO on this one.

The cost of transporting the house to the site would not be claimable.

But the cost of reinstating it on the new block should be. It would have presumably had new footings/piers, and as you said it was rewired and replumbed. These would be regarded as ‘capital…[Read more]

Re: Mick’s question on depreciating the carpet.

If you buy a DHA property and it is carpeted, you are paying for the carpet so you can depreciate it.

If at the end of the lease the DHA replace the carpet, this would be at their expense, not yours, so you could not claim depreciation.

Similarly any maintenance they pay for during the tenancy is…[Read more]

The first time I went for a loan I was 19. I had an appointment with the lending manager at a branch. It was afternoon peak hour and I was running late. There was nowhere to park, so I rode my motorbike up onto the footpath and parked it right outside the bank. I jumped off it and ran inside with my helmet still on. Then somebody screamed. And one…[Read more]

We’ve had good feedback over the years from clients who have been part of TIC. We’ve also done some jobs for their members.
They have lots of meetings all over the place and I think it’s always useful for investors to get together with other investors and swap ideas whether it’s in person or in an internet forum.
Scott

Tax Depreciation…[Read more]

Hey, maybe New Zealand is now one of our territories? Shhhhh. Don’t tell them.

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

Hi ‘The Petersons’
There is a ‘search’ function on this site and Tasmania has been the subject of many conversations, so it may be a good idea to see what has been said previously. (Having said that, I have never used the ‘search’ function.)
I was in Tasmania last week looking at one of my properties. The following is my take on the Tassie from…[Read more]

So it’s a Cost Plan you’re after i.e. an estimate of building cost.
It depends to an extent on the nature of the development. Naturally it costs more to work out construction costs on a high end property as opposed to lower end.
You’ll need plans and possibly engineering drawings if there is anything tricky. For accuracy, you’d also need to have…[Read more]

I reckon good PMs are the key. I went down to Tasmania last week to inspect a property (block of 6 flats) I have owned for a while (but never previously seen). I met my PM. She’s pretty tough. She knew the property inside out and gave me a rundown on each tenant – payment history etc. In addition to that she does inspections every 3 months and…[Read more]

Hi Dan,

It depends on where they are, how similar they are, and whether we can get access to all 7 on one visit.

The price could range from $330 to $440 each.

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

Adding to Steve’s second point, I just sold a cf+ property in country NSW. I sold it through a buyer’s agent – there are a few on this site (including MiniMogul who is great). It wasn’t advertised. I’d say I’ll shortly be selling a cf+ block of flats in Tasmania the same way, too.

Good luck

Tax Depreciation Schedules
Australia wide service
1300…[Read more]

I bought a property through them and they seemed pretty good.

The property turned out to be a fantastic buy (unit in Port Macquarie), but I’d say that owes more to the market than the marketer.

Like most of these guys, I imagine they work with a handful of developers and market the stock to a data base they’ve built-up over the years.

The…[Read more]

Unfortunately no, Calvin. And I’ve looked for people. If you know of a QS or Estimator there who wants some extra income, we can use them.

Essentially, we use QSs or Estimators to carry out inspections and send to us the costs we require to put together Schedules: cost of construction at time of construction (depending on date), cost of renos…[Read more]

Thanks Derek, I’ll do that. We have around 70 guys around the country and service more areas than anyone else at a standard rate, so I’d say we’re possibly the biggest QS group solely specialising in tax work.

Scott

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

Natalie, my business provides Tax Depreciation Schedules and even I don’t factor depreciation into my calculations when evaluating a property. I like investments to stack up without depreciation coming into it.

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

I’ve used CGU and Terri Scheer. Front end is okay with both, though TS is more expensive. Hard to say who’s best as I’ve never had to make a claim. Most landlord insurance providers won’t touch a property that isn’t managed by a PM.

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