澳洲Australia property Is this Depreciation Schedule cactus? | S


在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m


Hi all,
Prior to last FY ending, I got a depreciation schedule for a property built in May 1992. The property is a 2 BR villa in NSW with a split air-con, original bathroom and kitchen, new blinds, near new carpet...basic stuff.

I made a newbie mistake and since I didn't know much about depreciation schedules, the company I used were based in Queensland. They literally looked everything up online and sent me the schedule within 24 hours. They were cheap ($275). Though since I realise a lot of depreciation companies go out to the property, I've been a bit skeptical about the numbers - could be both high or lower than they are on this schedule. Last FY the numbers were $3522.86 and this year they are $2896.48.

I came across a few threads saying people with properties more than 30 years old were getting depreciation of $2k in the first year of doing the schedule. While according to the schedule I have I'd be getting less than 2k when the property is just 24 years old.

Should I consider getting another depreciation schedule? What do you typically expect a 20 year old property to be depreciating at?

Appreciate your thoughts :).

Thanks,
MsAli  

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All depnds on the build costs and the assets to be depreciated I would say as each property would have a different outcome. You schedule is probably reasonable but just not as maximised as one might be from a QS that actually inspected the property. You pay for what you get. Is it worth spending another $500+ to find out??? Thats up to you but I wouldn't unless I was sure I got rorted.  

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PM Scott (depreciator) and get his thoughts. He is a nice helpful chap and who many here use for their DS's.  

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For comparison

I recently bought a 3br 2 bath house built in 1994 - original everything, except carpets, blinds, paint and ducted aircon.

Depreciation report done about 2 months ago - they came and inspected the house. First year depreciation of $3400.  

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Is this Depreciation Schedule cactus?Click to expand...
Actually I don't think cactus is depreciable. It's a growing asset.  

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Definitely talk to Scott ie depreciator. He has always been super helpful every time I contacted him and tells you upfront whether it'd be worth it or not. We got 2 schedules done for 2 ips, one needed an inspection and the other one we just sent photos, and both came back with loads of depreciation.  

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tess85 said: ↑
Definitely talk to Scott ie depreciator. He has always been super helpful every time I contacted him and tells you upfront whether it'd be worth it or not.Click to expand...
I second that. He asked me few questions and then he told me not to bother. I would give him a call.  

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Thanks guys. I missed this. I will give Scott a call. Actually I am going to order the depreciation schedule for my new IP this week and since both are the same age compare the numbers...As well as get Scott's opinion. If the numbers are similar I will forego it, otherwise might consider getting it done again...

Thanks :)  

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+1 for Scott. I needed a slight variation to a standard DS, phoned him and it got sorted out within minutes. He is a knowledgable guy.  

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The amount of depreciation you can claim will obviously reduce each subsequent year. So 24 years into your current depreciation schedule a lot of your items will be fully claimed already.  

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a question re: dep scehdules

one of my family members has an IP or too,

has never done a dep schedule

her income is approx $35k ,

she also has tons of deductions to a point where her income will be close to zero,

in this case would you even need a depreciation schedule or a good one?  

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Property Meister said: ↑
a question re: dep scehdules

one of my family members has an IP or too,

has never done a dep schedule

her income is approx $35k ,

she also has tons of deductions to a point where her income will be close to zero,

in this case would you even need a depreciation schedule or a good one?Click to expand...
Jeepers. Does she also go to the forest and forrage for roots to eat?????

How the feck does she survive?????  

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