Join Australia's most dynamic and respected property investment community

Depreciation schedule

Discussion in 'Accounting & Tax' started by robbie_p, 1st Jun, 2016.

Tags:
  1. robbie_p

    robbie_p Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    411
    Location:
    Adelaide
    Hi there,

    I have depreciation schedule for my investment property.

    I have since installed aircon ($2000) and put up new fencing ($1000).

    Is this something which needs to be added to the schedule?

    Regards,
    Robbie
     
  2. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    9,037
    Location:
    Sydney
    Yes
     
  3. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

    Joined:
    18th Jun, 2015
    Posts:
    2,400
    Location:
    Sydney
    Go back to the QS and see if they can amend. Maybe no or trivial costs (and a scrapping deduction for the old unit maybe ??)

    The fencing would be a capital works item