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depreciation schedule?

Discussion in 'Accounting, Tax & Legal' started by voigtstr, 23rd Aug, 2008.

  1. voigtstr

    voigtstr Well-Known Member

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    On a house built in 1983, is there much that can depreciated? We take possession of a 3br brick home in Claremont Hobart within the month. Is it worth have someone go through the house and do a depreciation schedule? Who does these in Hobart?
     
  2. Billv

    Billv Getting there

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  3. voigtstr

    voigtstr Well-Known Member

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    Yep the kitchen and bathroom have both been updated. There's a dishwasher and split cycle air con that are a few years old as well.

    We only plan to rent it for 2-3 years, before moving in ourselves.

    Thanks for the link, it has been bookmarked.
     
  4. voigtstr

    voigtstr Well-Known Member

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    What sort of cost (on average) does it take to set up a schedule?
     
  5. Billv

    Billv Getting there

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    Depreciator is one but there are others as well
    such as

    Welcome to DEPPRO Asia Pacific,
    Depreciation Schedule, Quantity Surveyor – Washington Brown
    TaxShield Australia

    Expect to pay anything from $250 upwards depending on the type of property and it's location
    Taxshield seem cheap and there could be others but I don't know how good they are.

    I've used Depro and depreciator in the past with varying results.

    Deppro from memory offer a forum discount
    but Depreciator and others could match it so don't be afraid to ask.

    Cheers
     
  6. DaveA

    DaveA Well-Known Member

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    Depreciator does it for $605 for somersoft members...

    Interested to hear what you mean by varying results BV? You mean varying deprecation amounts?
     
  7. Billv

    Billv Getting there

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    Dave,

    Yes, different amounts and varying standards.

    For example I've used Deppro for 1 property and the figures were very good.
    Then I used them again 1 year later and they had obviously made a mistake
    The house was built in the 60's and the schedule they prepared was for a near new house.

    It makes you wonder if they've inspected the correct house or if they mixed up reports and someone else got mine...:eek:

    I've also used Depreciator a few times and when compared to Deppro I feel they are more conservative so it's unlikely that their schedules will be questioned by the ATO.

    It probably doesn't matter who you use but I feel that you need to keep an eye on them because they all make mistakes.

    Cheers
     
  8. Redwing

    Redwing Well-Known Member

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    I'd suggest you contact Scott from Depreciator, even just for some feedback; as a member of some of these sites I've found him helpfull to our queries
     
  9. Billv

    Billv Getting there

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    I agree, send him an e-mail he is a very nice guy

    scott
    @
    depreciator.com.au
     
    Last edited by a moderator: 28th Aug, 2008
  10. Rob G.

    Rob G. Well-Known Member

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    HA HA ...

    When I took out my first property loan (the worst house in the best street etc. ) it was more difficult to qualify for loans.

    The inspection report for the bank stated approx build date 1860 (old farmhouse in suburbs now - but big block).

    In the loan "interview" the bank clerk stated that this was obviously a mistake and changed it to 1960.

    Rob