hi investhut

in my experience as a ip investor, u offer what u can afford, if u loos this one, another door may open, the market is sluggish at the moment, so u may have a chance on getting the price u want. Good luck
Isa

“We’ve just bought an IP about 12 years old. I asked the real-estate agent about a depreciation schedule, he said that the owners do have one, but it’s with their accountant”

Hi Paguatao

I’m new at this posting, but i will try my best. This is my opinion hope it will help, Ta

i recommend that u get existing depreciation schedule, construction cost will not change, if you can ask the previous owners for a copy of accountants schedule, make sure that the copy includes capital works expenditure. If u can get all this info that will help ur accountant. Capital works problem solved.

The plant and equipment included in the existing schedule would need to be refreshed, u have purchased a house and the assets in the house for which u paid consideration, the same assets on this schedule may not have any value at all, or very low, but u have paid money and I recommend that this part of the schedule be re-estimated, u can under self assessment put values and give them to ur accountant, but if u not sure consult professional, in my opinion this report should cost between $300 to $500. Before u consider outlaying any cash speak to ur accountant

Isa