help re depreciation

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rip
Member
@rip
Join Date: 2004
Post Count: 17
June 14, 2004 - 12:09 pm
being only new to this forum, can anyone help re depreciation. I have two IP and after spending hours on this forum I am wondering whether my accountant is depreciating enough. Looking at my returns, there appears to only be a deduction for a new hot water cylinder which was installed last year. Both properties are pre 1985, is there any site I can access which lists what can and can’t be depreciated. I have only just learnt what a QS is! I probably need one? If you dont ask you dont learn. rip
rip
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
June 14, 2004 - 12:35 pm
I suggest you call a QS and get advice as to whether you should have more.
Depreciator on this forum seems to be very helpful and popular.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
depreciator
Member
@depreciator
Join Date: 2003
Post Count: 541
June 14, 2004 - 11:02 pm
Rip,
It sounds like you may be entitled to more than your accountant has claimed.
Give me a call and I’ll explain all.
Regards,
Scott – 1300 660033
Derek
Member
@derek
Join Date: 2004
Post Count: 3,544
June 19, 2004 - 6:47 am
Hi Rip,
Found this on the ATO website.
http://www.ato.gov.au/large/content.asp?doc=/content/42604.htm
Derek
[email protected]
Property Investment Support Available. Ongoing and never stopping. PM welcome.