It's here, it's gone, it's here and now it's soon to be gone again.....if Labour gets in. Goodbye depreciation...
That was back in 2020 - and it's only been 3 years, and now it wants it gone again. According to interest.co.nz (where that quote came from), the proposed removal...
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Depreciation on building
I have heard depreciation on commercial buildings is back again!
Great news ... looking forward to the details.
I use to get $175k depreciation in the old days.... double bonus perhaps with another decrease in interest rate.
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How much depreciation will I need to pay back?
Hi all,
I am selling my investment property which I've owned for 17 years. Over the 17 years I've claimed 123k in depreciation. Since I've been on a higher income I have benefited by 33% of 123k which is approximately 40.6k.
My question is when I sell will I need to pay...
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Replaced oven - how to expense?
I just replaced an oven in a rental property and am wondering how to deal with it for tax.
Do I expense the whole thing at once (does it fall under repairs and maintenance) or do I depreciate (can you still do that)?
Advice much appreciated!
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Depreciation obligations when moving into rental or selling it
Hi Guys
We're currently staying with our folks and due to an expanding family; we're thinking of moving into one of our rentals or selling it and then purchasing in a nice area.
My questions is that for the past few years we have been claiming depreciation on the property since...
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Trusts & Depreciation Claw Back
A house is sold by a Trust and the sale involves a depreciation claw back of $18k.
What's the best way to deal with this sort of situation? Offset against beneficiaries distributions?
Something else?
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Did not claim depreciation on property
I have a friend who's accountant has not claimed depreciation on his commercial and residential properties
It has now been 4 years so 3 years have been filed
Question
1 can you now start depreciation?
2 can you backdate ?
3 can amend earlier returns ?
Not...
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Loss on properties sold for less than purchase price
When a property is sold for less than the purchase price and also less than the NBV but more than the Land Value
Can you
1: Further write off the building
2: Write off the balance of the chattels
3: Completely write off the building (yellow stickered) which if you can...
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Depreciation rate for Fence?
Hi
Cannot find the Depreciation rate for Fences on the IRD site.
Anyone now what the DV % might be?
Thanks
Richard
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Depreciation
A comment I read somewhere led me to think. If the IRD does not allow depreciation of assets on a rental property, can the Tenancy Tribunal use depreciation rates to minimise the cost to the tenant for destroying said (un-depreciable) assets.Last edited by Perry; 20-02-2018, 03:32 PM.
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Depreciation
If I buy kitchen very cheap and put into rental property, can I get it valued and depreciate off real value or only what I pay?
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Depreciation Recovery on chattels like appliances
We bought an apartment in 2014, rented it out and started to depreciate appliances (fridge, dishwasher, washing machine dryer, etc)/boiler/carpet. We are planning to sell the apartment - with a profit. Those items will be included into the purchase and not sold individually/separately.
...
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Cutting down trees, repairing and painting rotten boards. Deductible or depreciate?
Cost of removing trees was $3600 can that be deducted as an expense as there isn't an asset to depreciate??
Rotten weatherboards were replaced $6,000. Can this be depreciated (what rate) or is it part of the building that can't be now?
I painted the new boards....
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Depreciation question?
Hi Guys
I have made major Improvement to my rental bathroom recently.
Including new floor, walls, ceiling, window, shower, vanity, heater and fan.
The labour includes, flooring, painting, plumbing and builder.
Any of these depreciable ?
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Double Glazing Deductible or Depreciate?
I find this a grey area.
I have a house that is over 50 years old. The old wooden windows are draughty, leak warm air, hinges difficult to move and a pain to paint. So I spent $12000 removed the old windows and inserted double glazing. To be deductible the rule says replace like with like...