I am getting my tax done next week, but have as yet not had a depreciation schedule done on my property. If I have one done after the tax, can it still be added this year, or do I wait for next?
Do I miss out on a year’s worth of depreciation?
Cheers
“Looking forward to the day when I can tell the boss where to go”
If you submit your tax without including depreciation, you can amend it later. But your accountant charge you a fee to do that. And I have a probably silly belief that it’s always best not to draw attention to yourself by amending returns if it can be avoided.
Depending on where it is, and whether we can get access, there is a chance we can get it done in time. We turned a job around this week that came in on Monday.
Scott 1300 660033The depreciation schedule can be backdated to when you bought the property.
Your tax returns can be amended for up to four years. Meaning you can submit an amended return when you have the depreciation report.
Keep an eys out on my website- I am adding a section on QS and dep schedules shortly.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Simon…
Had a look at your webpage
CONGRATULATIONSLOOKS GOODREDWING
W.A“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorThank you redwing…it is a constant work in progress – probably never be finished!
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 9853 year fixed rate – 6.69%
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Love to have you here depreciator, but if you plan on coming to Alice Springs on the weekend, I’m afraid your services are a bit far away.
Cheers
“Looking forward to the day when I can tell the boss where to go”
Depending on the property and the sort of information you can provide on the building and assets (we have a format), it is possible to do these without a visit. And they cost less! We did one this week for a forum member with a house in Alice Springs.
I’m off to meeting now, but I’ll be around all afternoon. Give me a call if you want to chat about this.
Scott – 1300 660033.
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