washingtonbrown replied to the topic claims on new house in the forum No Subject 18 years, 5 months ago
Hi
As for the building depreciation….
Allow about 5-8% of the building construction cost as your first year depreciation….(of building plant and building) as your deduction.
It will vary depending upon the finishes you use.
Regards
-
washingtonbrown replied to the topic Depreciation on an old property? in the forum No Subject 18 years, 6 months ago
Hope you both get something out of it!
We are about to release some exciting newsworth stuff…so i hope you have both joined the subscription section.
Regards
Tyron Hyde
http://www.washingtonbrown.com.au -
washingtonbrown replied to the topic Depreciation on an old property? in the forum Legal & Accounting 18 years, 6 months ago
Hi Mark
Yes the depreciation will only last 25 years in that case. In terms of whether the original intention has to be an investment property…
You must know more than the average punter!…This was the case many years ago but was changed. It is not the case now.
It would be impossible know what the original intention of that ownnership was…[Read more]
-
washingtonbrown replied to the topic Depreciation on an old property? in the forum Legal & Accounting 18 years, 6 months ago
This is correct – to be precise the dates are
From the 18-7-1985 to 15-9-1987 the allowance is 4%. The relevant date is the commencement of construction in order to qualify.
If you go to our website http://www.washingtonbrown.com.au and download the brochure…you have it mapped out for all different property classes.
Now these dates only are…[Read more]
Total Members: 159,187
