New Garage

Discussion in 'Accounting & Tax' started by Boss, 9th Feb, 2020.

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  1. Boss

    Boss Well-Known Member

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    Agnes Water
    Scenario: I currently have several rental properties including one freestanding brick/tile house on an acreage. The house has a double garage. That said, I am thinking of having a detached, steel garage constructed on the block with a gravel driveway for access (most Tenants who live on acreages in the area seem to like storage for boats and other toys/stuff).

    There is ample room on the block.

    Question: How will the ATO view the construction of the steel garage and gravel driveway? 2.5% write off over 40 years depreciation? Some other depreciation scale? No depreciation?

    Cheers
     
  2. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    Div 43 provided it is used solely as a element of the rental property. Otherwise, adjust for other use. It is a structure. Automagic roller motor unit may be Div 40 if one was fitted.
     
    Last edited: 11th Feb, 2020
  3. BMT Tax Depreciation

    BMT Tax Depreciation Chris Business Member

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    I'm interested to know where you're coming from. At a glance (and with a second opinion) it appears to be Division 43 to me.
     
  4. Ross Forrester

    Ross Forrester Well-Known Member

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    Doc 43 2.5%
     
  5. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    TYPO...2.5% Div 43....Corrected:eek:
     
    BMT Tax Depreciation likes this.