Depreciation meaning?

Discussion in 'Accounting & Tax' started by MyDarlinghurst, 10th Feb, 2018.

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  1. Paul@PAS

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

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    Property with common areas is generally best inspected v's free standing homes. I say generally....I have often told clients buying a new apartment to find out from the builder who did the original QS estimates for the lender. Armed with that knowledge the report is often half done and a final report based on the specific interior fitout based on images can be easily done.. Often a lesser cost too.

    That said I had a QS come back to a client on that and he suggested a drive by to see if the final build was as planned and then "found" the builder had put a large pool/gym etc in place of lawn after the QS reports were done for the lender. Sometimes minor site changes occur in the build to enhance value. I say minor but a pool, spa, sauna and gym facility in a complex may cost $X00K.
     

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