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Discussion in 'Loans & Mortgage Brokers' started by Lam Thieu, 13th Feb, 2008.

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  1. crc_error

    crc_error The Rule of 72

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    True, this should also be considered if eligible for, plus stamp duty concessions if available.

    Also if you would be renting somewhere else, you need to consider the saved rent..
     
    crc_error, 16th Sep, 2008
    #101
  2. Lam Thieu

    Lam Thieu Well-Known Member

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    Just a note in regards to deductions.

    This house that I have is quite rundown, and i'm not sure what I can claim as depreciation

    We did refurbish the kitchen...i.e. new sinks and benchtops from ikea.....can I claim these in deprecitation....if so, over how many years can I claim them?

    Also in terms of evidence, what evidence do i need to provide?....this new benchtop was purchased by my parents and i'm doubtful they still have the receipts to them....

    hmmm.....
     
    Lam Thieu, 16th Sep, 2008
    #102
  3. crc_error

    crc_error The Rule of 72

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    You get in someone to draw up deprication schedule.. also when you throw stuff out, ie old kitchen, heater etc, you can write the items value you throw out 100% on the old stuff..
     
    crc_error, 16th Sep, 2008
    #103
  4. Lam Thieu

    Lam Thieu Well-Known Member

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    Could I draw up the depreciation schedule myself....or does an accountant need to do this.

    Also, do I need any receipts of the kitchen purchase at ikea?
     
    Lam Thieu, 16th Sep, 2008
    #104
  5. Simon Hampel

    Simon Hampel Founder Staff Member

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    For items you have evidence of purchase price for (eg receipts), you just give these details to your accountant or tax specialist and they will work out the depreciation schedule for you.

    For anything you don't have receipts for (eg stuff that was already there when you bought it), you get a quantity surveyor in to do an estimate of value for you. You can also get a qualified builder to do this - doesn't have to be a quantity surveyor.
     
    Simon Hampel, 16th Sep, 2008
    #105
  6. crc_error

    crc_error The Rule of 72

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    crc_error, 16th Sep, 2008
    #106
  7. Lam Thieu

    Lam Thieu Well-Known Member

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    It says that a TPD is 100% tax deductible....how much does a TPD normally cost?
     
    Lam Thieu, 16th Sep, 2008
    #107
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