Can anyone recommend a quantity surveyor in the south Brisbane area who would provide a depreciation schedule for an IP? How much would it cost? The home is approx 40years old and we are unsure if we would gain much benefit from depreciation.
Melb
Hi Melb,
As the property was built before 17th July 1985 then there will be no building depreciation left for you to claim apart from any renovations that are considered to be part of the building.
Aside from the building depreciation you also have available to you plant depreciation which has a start up and depreciable life value at time of purchase.
For an expert opinion drop depreciator (AKA Scott) a PM and he will be willing to be of assistance.
Derek
[email protected]Property investment advice and researched property in quality locations available.
Hi Melb,
It may indeed be questionable whether you will get sufficient depreciation to justify the cost of commissioning a schedule. Much depends on the quantity/quality of Plant items (AKA Fixtures and Fittings) e.g. carpet, stove, air con etc.
I’m in the office most of today and most of tomorrow. Feel free to give me a call and we can chat about the property. You are allowed to ‘self assess’ Plant, but I’ll need to talk you through this.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.au
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