All Topics / Legal & Accounting / Putting shed/Carport on IP can I reap some of the depreciation or costs through tax????

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  • Profile photo of PALOHHPALOHH
    Member
    @palohh
    Join Date: 2008
    Post Count: 7
    October 3, 2008 - 5:02 am

    Hi,

    Yes PI forum poster virgin….

    I am looking at heading overseas in about 6 weeks for two years and we will be renting out our PPOR (Home and acreage SYD) We are wandering if we should put a carport up now, or wait till the tenant is in and then put one up. We want to do what is most beneficial for tax and income purposes, we would also like to put a shed on it given the information I have provided is limited, what at is the best course of action.

    Thanks,

    PALOHH

      

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    October 4, 2008 - 4:13 am

    Hi

    I don't think waiting will make any difference at all. If you are renting your property out you can claim all expenses such as rates, interest etc and depreciation – usually 2.5% pa of the building cost (after 1985 i think) this should include carports.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 2 posts - 1 through 2 (of 2 total)

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