AC + blinds: do it now or later

Discussion in 'Accounting & Tax' started by rapr, 22nd Nov, 2017.

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  1. rapr

    rapr Member

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    We are moving out of our PPOR, need to convert to investment.
    We intend to install new blinds and air conditioner.
    When should the depreciation report be done? When should we install these, now or after we move out and before tenants come.how will we get the maximum benefit from depreciation.
     
    rapr, 22nd Nov, 2017
    #1
  2. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Install after you move out and before they move in otherwise there is no depreciation under the new rules. The QS can incorporate the new assets based on actual cost in the report assuming they will inspect prior to those minor additions.
     
    Paul@PAS, 22nd Nov, 2017
    #2
    BMT Tax Depreciation and Ross Forrester like this.
  3. Mike A

    Mike A Well-Known Member

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    and that is why having a tax adviser is critical. a 5 minute phone call and extra tax benefits easily identified.

    i tell clients the value of the return is not in entering the data its analysing the data and when you have a question know that your structuring things or doing things correctly.
     
    Mike A, 22nd Nov, 2017
    #3
    Paul@PAS and Ross Forrester like this.
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