Recommend a Conveyancer, Depreciation Guy & Property Reporter in Wyndham

Hi All,

First time posting, I am looking for a good Conveyancer, Depreciation Guy (the one who prepares depreciation schedule, don’t know what they call them), Pest & property reporter in Werribee/Hoppers Crossings/Tarneit area. Can someone please provide some recommendations?

Thanks

 

any update on this one?

 

Whats a property reporter?

 

I guess he meant building inspector or something

 

A journo working for Domain?

 

sorry guys I am new to this site and property market. Btw what is the Depreciation schedule or chart for an est property.

 

There is company that prepares depreciation reports for me. Their prices are reasonable and have very quick turn around. You can PM me your email and I can forward that to my contact who can reach out to you for further details.

Basically a depreciation report tells you what you can depreciate.
Normally if you build a house, you can depreciate the cost of over 40 years.
Say you install carpets, you may be able to depreciate the cost over 10 years.

What happens when someone else has been taking deductions, and you now come in and buy the property? How do you know what has already been depreciated, what was the original cost etc? This is where the depreciation report comes in. A specialist will estimate all that information for you and give you a report which you can use to prepare your return, or just give it to your tax accountant.

And of course, this is only for investment properties, you cannot depreciate anything for you main residence.

 

Depreciation schedules are prepared by quantity surveyors who can estimate past construction costs. They work nationally in most cases. I recommend BMT, WashingtonBrown and Duotax. Each can advise on the merits before they are engaged. They are usually engaged once you own the property.

A pre-purchase building inspection for defects and pest issues is wise. If purchasing a strata property alos consider a strata search to avoid buying a problem. These are best done BEFORE making a offer or making the contarct subject to a suitable inspection. Many on PC refer to P&B reports (pest and building)

A solicitor or conyeyancer should be considered to give advice PRIOR to siging a contract and may recommend a P&B inspector they find reliable. They will review the contact with you and walk through any issues prior to committing to something that cant be fixed later eg making the contract "subject to finance" and subject to inspections etc

 

+1 for BMT