Forum Replies Created
Sounds to me like you've answered your own question.
In these repairs vs. capital improvements it really can be a case by case basis and lots of grey areas.
On the face of it….i'd probably start with a repair….
If you don't start that way – you'll never be able to go back.
Hi
Maybe this article i wrote will be help you?
http://www.washingtonbrown.com.au/property-repairs
Regards
Tyron
Sure did know that
We get http://www.washingtonbrown.com.au/property-depreciation-schedules#internationalDepreciation
We get around these days!
Regards
Tyron Hyde
www,washingtonbrown.com.au
If it's soooo good – why do they need to sell it to Aussies! Surely all the Americans would buy?
At one property expo I exhibited at recently….about a third of the stands were all selling US properties.
That made me worried!
Regards
Tyron Hyde
CEO
Well the good news is – the Tax Working Group did nothing.
Depreciation is back baby!!
Regards
Tyron Hyde
You can see all the submissions here in relation to removal of depreciation.
http://www.treasury.gov.au/ConsultationsandReviews/Submissions/2012/Business-tax-reform/Submissions
I think they should increase to 4% building allowance to encourage investment and save money.
If you're interested read the Washington Brown submission.
Regards
Tyron Hyde
CEO
We have people in certain parts of the world.
I wrote this article on the topic some while back:
http://www.washingtonbrown.com.au/quantity-surveyor-corner/overseas-property-purchases
I hope it helps
Regards
Tyron Hyde
Hi
As you are not settling until July…..you won’t be able to claim anything this financial year.
The report will start from Settlement.
Might be best to organise the QS to inspect just prior to settlement – so as to not disturb the tenants if you have one immediately.
regards
Tyron Hyde
CEO
http://www.washingtonbrown.com.auHi
I have strong views on this topic. You can’t “self assess” the construction costs and it’s not supported by our Institute.
http://www.washingtonbrown.com.au/tax-depreciation-tips#tip6
Further – read Tip 11 here:
http://www.washingtonbrown.com.au/quantity-surveyor-corner
You now need to make sure anyone you are dealing with is a Registered Tax Agent here:
http://www.tpb.gov.au/tpb/agent_register.aspx
Regards
Hi Dean
Quite a complex query. If you want some free advice give me a call tomorrow.
Regards
Tyron hyde
wwww.washingtonbrown.com.au
HI Daniel
We do work in that area if you are interested.
Regards
Hi
This article might be of benefit to you. I wrote it for YIPmag.com.au
http://www.washingtonbrown.com.au/property-repairs
Regards
Tyron Hyde
http://www.washingtonbrown.com.auHi Plee
That's a really good question.
With regards to World Square – we act for Meriton Apartments – so we have all the plans, specs and costs etc.
So you could feel more comfortable using us in this interest.
Regards
Tyron Hyde
Director
http://www.washingtonbrown.com.auTR 97 / 25 Par 28 indicates who can estimate the construction costs where the costs are unknown. Valuers and accountants CANNOT the Par reads like this:
28. Appropriately qualified people might include:
- ·
- a quantity surveyor, who has expertise in the relevant type of construction;
- ·
- a clerk of works, such as a project organiser for major building projects;
- ·
- a supervising architect who approves payments at each stage in major projects and who may approve individual payments to subcontractors in smaller projects; or
- ·
- a builder who is experienced in estimating construction costs of similar building projects
Paragraph 27 highlights who caonot:
27. Unless they are otherwise qualified, valuers, real estate agents, accountants and solicitors generally have neither the relevant qualifications nor experience to make such an estimate.Regards
Tyron Hyde Washington Brown
Hi DWolfe
It really depends on the location and type of property.
There is a section on our website to give a few details and we’ll send you a proper quote.
have a great day
Ty
Hi Blissy
Why don't you use our free depreciation calculator:
http://www.washingtonbrown.com.au/
That way you can work out how much you can claim first!
regards
Tyron
I'm biased – but why dont you give try our calculator – to see what returns you might achieve.
http://www.washingtonbrown.com.au
Regards
Tyron
Hi Jazamite
Go to our website
http://www.washingtonbrown.com.au
We have a free dep calculator that will help you.
Cheers
Tyron