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Depreciation Report

Discussion in 'General Property Chat' started by snita, 20th Jan, 2016.

  1. snita

    snita New Member

    Joined:
    2nd Jul, 2015
    Posts:
    2
    Location:
    Sydney
    Hi all

    I have 2 investment properties, one around 20 years old which I bought 8 years ago and have lived in on and off, and another 10 years old which I bought 1 year ago and have never lived in. Should I get a depreciation report done on one, or both? I will most likely be moving in to one of them in the next few months, not sure if/how that affects things tax wise?

    Anyone recommend someone in Sydney to do the report? Thanks for any advice!
     
  2. MsAli

    MsAli Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,147
    Location:
    Sydney, Australia
    Leo2413 and York like this.
  3. Depreciator

    Depreciator Moderator Staff Member

    Joined:
    15th Jun, 2015
    Posts:
    730
    Location:
    Sydney
    They're both worth doing. The fact that you may be moving into one of them in the next few months muddies the water a bit. The newer property will have more depreciation so all other things being equal, it might make sense to move back into the older one.
     
    Leo2413 likes this.