A couple of basic chattel questions
1/ I take it that provided at the time of purchase the SAP aggrement DOSN”T have a separate chattel value one can get a new chattel valuation done to go forward with…BUT if the SAP does have a separate chattel value noted then that is the chattel value that must be used
2/ Does the reverse therefore apply IF when the property is subsequently on sold AFTER having had a chattel valuation done after purchasing it and claiming depreciation untill it is on sold but the on selling SAP has a very low chattel $figure in it (more in line with the normal chattel $ figure you would get in a normal RV for example)or NO chattel $ figure at all(because in that case you would use your depreciated chattel book value)as the portion of the sell $price for IRD purposes…Therefore NO clawback ?????
Hope this all makes sense
Cheers KevinHave a good one
Regards KevHi Kev,
You’re going to have to rewrite that second question. I can’t decipher it.
Your nickname – Geysertown – suggests that you are in NZ? If so, send me an e-mail and I’ll be able to steer you toward someone who will be able to answer your rewritten question.
ScottTax Depreciation Schedules
Australia wide service
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http://www.depreciator.com.aufsfdsfsf
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