Depreciation Report

Discussion in 'Accounting & Tax' started by snita, 20th Jan, 2016.

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  1. snita

    snita Member

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    2nd Jul, 2015
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    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!
     
    snita, 20th Jan, 2016
    #1
  2. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    Property Twins, 20th Jan, 2016
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  3. Depreciator

    Depreciator Well-Known Member

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    15th Jun, 2015
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    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.
     
    Depreciator, 20th Jan, 2016
    #3
    Sackie likes this.
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