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Rank: Administration
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Joined: 1/12/2009
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While I would also recommend professionals to do this properly, I thought I would try and generate a list of depreciable assets in a house (chattels)
So far off the top of my head I have
- Window fittings (curtains / blinds)
- Light fixtures
- Tap fittings
(these below are uncertain, if anyone could verify it for me)
- reticulation
- oven
- air conditioning
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Rank: Advanced Member
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I am not sure exactly and it depends on when you have the items ready for use. That is, I think you have to have owned the property for over a year before you are aloud to claim a tax deduction for some things. Can explain more if anyone needs.
As far as a list of depreciable items, the master tax guide has a list and the ATO's suggested depreciation rate or effective life. I will look for a link and post at some stage as it is also on the ATO website somewhere.
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Rank: Administration
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Joined: 1/12/2009
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Apparently its everything in the house that isn't part of the main strucuture yet, is an addon for the home.
Some more examples
- Carpet
- Oven
- Tiles
- Door handles
Generally anything that must be replaced every 5-10 years due to wear and tear
Of course check this with a professional chattel valuer first.
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