I have to spend a few thousand dollars to cut and remove a termite damaged tree in an investment property. Can I claim that expense in the tax...
So, I appreciate that since 2017 I can only depreciate new equipment assets, installed when I owned a property and it was producing income. How...
Hi all! Got a letter from the tax man saying they are highly suspicious of my Capital Works deduction of $7122, and may want to audit me. I...
Hello, I am in the process of completing tax return for FY 20/21. During the year we purchased an older IP and I had an assessment done for the...
Hi All, I am trying to determine what the cost evidence requirements were for a QS Schedule. I know that there are ATO rulings saying that you...
Hi all, Just wondering if the following scenarios are possible regarding investment property cashflow. * If the pre-tax cashflow is a negative...
Hi all, Just to clarify how accountants cater for property depreciation, my understanding is that there are 2 main depreciation methods -...
There's no such thing as depreciation "benefits". Depreciation isn't beneficial, it's the opposite of appreciation. If you can claim $10k in...
BMT did a depreciation schedule for investment poperty about 4 years ago and have been using that in tax returns. Its recommended that you do a...
If people are considered to be 'in the business of letting rental properties' as far as the ATO is concerned, do other business rules apply, such...
I did a renovation prior to 2017, and I got a depreciation schedule for my IP. For 2019-2020 financial year, I have the following 3 values:...
I know that a Depreciation Report is worth its salt. However, is it worth it for every type of development? I have a friend who just purchased a...
G'day ! I'm confused with the new changes to depreciation in Nov 2017. Can someone pls answer the following: (1) Can I still claim depreciation...
Hi all, I have been using BMT for tax depreciation schedules but just wanted to ask if it’s worth getting BMT for my upcoming investment property...
Hi all, Trying to get clarity around renovations / improvements and their tax depreciation potential, I seem to be getting conflicting...
Hi all, I'm looking for a depreciation schedule vendor to help producing the depreciation schedule report. I wonder whether I need to choose the...
Haven’t had sold enough properties to find out that all the depreciation claims made throughout the years need to be offset back against the cost...
Under what category would new sliding screen doors ($3300 installed) be considered (not repair)? Doors included lock and security mesh....
Is it worth investing in a sub-dividable or already subdivided home, then building a new home behind/side for instant equity increase as well as...
In renovating my partners current IP project which was a deceased estate that had little/no maintenance for 20+ years I have added a plug and lead...
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