Don’t forget also on older properties that any renovations carried out after Feb 26, 1992 can be depreciated. And it doesn’t matter who did the renos i.e. you or a previous owner.

Scott

The comments about building quality probably apply to some Australia locations.

One of my QSs just did an inspection on a new building in Sydney. He was lamenting the quality of the work. Lots of apartments these days have single brick exterior walls and plasterboard internal walls. They look okay, but they’d be noisier.

He rarely sees a…[Read more]

I’d say very few accountants know about it either, Bennido.

We’re a depreciation service provider to the Count Wealth group – 700+ accountancy and planning practices nation wide. I canvassed some Count Members at their national conference and not many knew about it. I was talking to a Count guy recently. He had just been to an NTAA training…[Read more]

Regrow,
Those are questions for an accountant and I’m sure one will jump in – Julia perhaps.

Life,
It’s only depreciation claimed on the building (not fixtures and fittings) that is deducted from the cost base for CGT calculations. But upon sale, any investment property purchased after May 13, 1997 must have the building depreciation eligible to…[Read more]

I’d say there will be a few people with delivery of CE apartments pending who will be interested in the outcome.

Robo,
I wonder whether a Hebel product would work? I think Hebel ‘render’ is a 3mm skim coat. Not sure whether the surface has to be primed, or whether there even is a Hebel primer for that matter.

Michael is right. You need to give some definition to what you’re thinking about before anyone will be able to think about an estimate.

There is a QS in Nowra who might be worth talking to – John Eastment.

What about taking a photograph of the sort of thing you’d imagine building – go for a drive round the area where the land is and you’ll see…[Read more]

Gee, those cavities must be cavernous – I’m thinking the walls must be at least a metre thick. Even if Central Equity were to allocate cavity space to floor area, it could surely only equate to one percent or so.

I’m not sure whether the fact that a size was quoted on a brochure will be enough to help you. There were no doubt disclaimers on some…[Read more]

Ggreg,

Send me an e-mail and let me know where you’re looking at building. If I’ve got a guy nearby, I’ll put you in touch with him. A conversation isn’t going to cost you anything.

scott@depreciator.com.au

Hi Derek,
Yep, the total amount claimable is of course the same regardless of what method is used.
Perhaps Celivia has some items with effective lives of over 10 years.
Floating timber floors, for example, now have a 15 year life. Using the PC method the depreciation per year is the same for all 15 years. Using the DM method, there would be very…[Read more]

I guess in a nutshell, Quantity Surveyors have a uni degree, while Estimators have taken a trade route to where they are.

Estimators generally stick to estimating costs, while QSs sometimes do a broader range of things – tax work, sinking funds etc.

In our network I have a mixture of QSs and estimators. They’re both able to (and qualified to)…[Read more]

Worth a try.

Look for a local Estimator as opposed to a QS.

You’re in luck. One was very kindly returned as ‘no longer needed’. It was in this morning’s mail. After I posted the offer on this Forum (and waited a day), we did a mailout to our data base. Stupidly, I told the guy who manages our frontend to put my e-mail address down as the contact – I won’t make that mistake again.
50 tickets went in 13…[Read more]

There can’t be too many people going. I offered some free tickets on Monday and didn’t get many takers.
Scott

A QS or estimator could put together a Cost Plan for you. And if he’s local, he should have an idea of local labour costs. If you send me an e-mail I’ll probably know someone near where your brother’s site is.

Richard is right, though. I’d say everywhere in Australia you’d be at the mercy of builders. Insurance problems (in part) have helped…[Read more]

I never really factor depreciation entitlements into purchase decisions. Of course, they’re at the back of mind. As a ‘non cash deduction’, depreciation is a bit of ‘cream’. I think ideally a purchase needs to stack up pretty well without depreciation. And bear in mind Tax Depreciation Schedules are all we do.
Scott

I’ve found CGU good, too. Reasonably priced. To take Bennido’s point, though, I’ve never had to make a claim. It’s when you want money off your insurer that you find out how ‘good’ they are.

Now we’re straying into accountant territory. If you’re a tradesman and you invoice yourself, I guess that would be fine.

Nope.

Peter Lang at PLA Management in Edgecliff is pretty good. Maria there knows a fair bit about property. There more accountants than advisors.

We know quite a few accountants/planners nationally. What suburb are you located in?