spaceman
Fanatical

It's been moved to the Currency Contortion thread by Perry. Which still seems closed. Hope it doesnt prevent you from replying.

Hi Spaceman, been a while. I left you a link in the Financial Armageddon thread. Worth a read I think.

Normally I live in Dili in East Timor ..... right now I am in Palmerston North.

Think they've got you on the 50 year thing... apparently to be considered a house and thus get building consents/approvals etc it has to be designed with a 50 year lifespan..... hence no deprec on houses. I would assume that now all repairs are abled to be claimed as expenses as you can no longer capatlise them and deprec any more you were required to do with some if they were considered improvements.... not sure what will happen if the repair is a repair and an improvemnet at the same time... replacing a roof could be a good example of a repair, some beean counters may claim it to be an improvement if somehow the roof is better ...dunno I guess I'll have to cross that bridge when I come to it.

Maybe it will all be clear to me when you read this in 6 months time...cheers
spaceman

Che ? i only log on once every 6 months spaceman

what are you referring to

best wishes

Olly_Pilchard

ps just looked at original message; disregard the above; where in Space do you live

PPS what are your views on Budget 2010; my thoughts are my property wont last 50 years ; so will continue to claim deprec as per before ; if it is to last 50 years I need to claim the 3% per annum to pay for rebuild of roof say in 10 years time; what are your extra-terrestial thoughts ?

Hi Spaceman how come its just you and me on Good Friday viewing the listings ?