It's best practice to view the unit and its common area. You might think that not much has changed, but that's a quantity surveyor's area of...
I'd say that's on the conservative end for a 20 y.o. unit, but it's possible. I've seen lower for 1BRs or studios, but not often. It depends on...
Fair enough! As long as the cost-benefit equation is in your favour ...
All of the above will depreciate, except I can't comment on "sundry other minor works" because I don't know what they are. We do not include your...
No, we sought clarification from one of the Assistant Commissioners at the ATO to clear this up, so there's no private ruling. It simply aligns...
Yes. The continuing party will be seen not to have been the owner of (for example) 50% of the assets' value, so, therefore, they are the new owner...
Full transfer, stamp duty and everything? The above applies. Happens semi-regularly.
This isn't as big a deal for commercial property. As residential property did before 2017, plant and equipment reset their lifespans when the...
Sorry, I've been on leave, but I think Paul covered it above. What I will say is that we ask for costs, and we use what we're given in good...
Are you saying that it was your accountant who did the refusing here? Even if not, do you know what the reasons are for the accountant refusals...
I see. No, you can't claim on things that other people/entities own. If they leave it behind, though ...
A good point. When training BMT staff on how to handle commercial enquiries, I'm always drumming into them to ask the question: "Who owns what?"...
You can only claim tenant fit-out once it has been abandoned. However, any prior fit-out bought with a property can be claimed, as long as it...
If you were told that you could claim on plant and equipment, I'm concerned about the advice you were given (unless you told them that you'd be...
This is mostly correct, but: 1. It's not the age of the building so much as the age of the works. E.g., you can get great deductions from a...
Seconding this. Any estimate of deductions for now should include Division 43 capital works only.
This is great feedback, @sset. I know the horse has bolted on this one, but for our QA purposes, I'd be very interested to know which...
I'll chip in with some figures, because "minor" might be relative here. A construction cost of $200k might see a first-full-year claim of up to...
We agree. Better still, I've uploaded the entire document with this post, and recommend people read beyond your excerpts. Pages 7 through 9...
I understand why you might feel conflicted about this, especially in the wake of conflicting professional advice. I'll try to articulate our...
Separate names with a comma.
