NSW Depreciation Schedule on property with granny flat

Discussion in 'Property Management' started by qonyx_sydney, 7th Jul, 2015.

Join Australia's most dynamic and respected property investment community
  1. qonyx_sydney

    qonyx_sydney Well-Known Member

    18th Jun, 2015

    I have another depreciation question regarding a property where i am about to build a granny flat on.

    I have held off getting a depreciation schedule on the primary property because i know that i am about to build a granny flat, however this puts me in a bit of a situation as my granny flat will not be complete for another 6 months, which means i won't be able to to do my tax (and get my tax refund until then).

    Given the granny flat is a full construction cost, would it be fair to say that the full amount of the granny flat build (excluding, plans, engineering and other non-building-materials costs) would be a fully depreciating cost? Which means that there would be no need for DS for the granny flat?

    Or should i really just wait til the granny flat is built before considering doing my DS?