Depreciation Report

I need to get one of these done on a new investment property. The property hasn't settled yet, can this be done before settlement so that it doesn't disrupt the tennants?

Is it true that the depreciation report should be done as early as possible?

How long does one of these take?

 

As long as you have the report arranged prior to doing your tax return for the year, you should be fine.

@Depreciator will be able to advise further.

 

Coordinate it for the final inspection prior to settlement.

 

+1 for recommendation of Depreciator here too .

 

Thanks all.
Giraffez, best time to do an inspection is before tenants get in there. Before settlement is great if the agent will play ball and allow access.
It is useful to do the Schedule not long after purchase in case you need to replace an Asset in the property. If the Schedule is done, the value of the Asset you are replacing will have been captured so your accountant can claim it. Then the new Asset goes into your Dep Schedule - we don't charge to update them.
Scott

 

Thanks all

Thanks Scott. Will give your office a call. I just realised that I did my previous property through you also. I completely forgot because it was so long ago! You offer a previous customer discount?

 

Mentioning to @Depreciator that you are a forum member gets you a great discount
(And deductable anyway)