Hi all,
Just a quick question - My girlfriend is about to rent out her PPOR and therefore convert to an investment property. I advised her to get a depreciation schedule from a quantity surveyor, but I've just found out that her unit was constructed in 1985. Not sure the exact date.
I am under the impression that properties built between July 17th, 1985 and September 16th, 1987 have a 4% capital allowance, and those built from September 16th, 1987 onwards have a 2.5% rate.
Therefore, does this mean that any property built before July 17th 1985 is not eligible for depreciation?
Given the age of her unit, is it still worthwhile getting a depreciation schedule for taxation purposes?
Cheers,
Justin.
Just a quick question - My girlfriend is about to rent out her PPOR and therefore convert to an investment property. I advised her to get a depreciation schedule from a quantity surveyor, but I've just found out that her unit was constructed in 1985. Not sure the exact date.
I am under the impression that properties built between July 17th, 1985 and September 16th, 1987 have a 4% capital allowance, and those built from September 16th, 1987 onwards have a 2.5% rate.
Therefore, does this mean that any property built before July 17th 1985 is not eligible for depreciation?
Given the age of her unit, is it still worthwhile getting a depreciation schedule for taxation purposes?
Cheers,
Justin.