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Where can we get the calculator? Also, do you know if I claim tax back via our SMSF for your course? I have been following your approach and really appreciate your humility and your knowledge
Thats deceptive as depreciation amounts are deducted from capital cost so capital gain tax is paid on lower capital cost as the profit margin will be higher. The depreciation advantage over the life of the item is far less than the capital gains tax savings when its not used as capital cost of property remain high.
Deprecations benefit is added to capital gain and tax is paid on that as any other capital gains. Nothing is deceptive, this is what is mentioned, and is implemented by ATO. Often this can be larger than the cashflow benefit depending on the persons tax bracket, simple financial modelling shows this.
I understand that in the example discussed, ie Family or Discretionary Trust is deriving and income and the depreciation can offset the "trust income". I am unclear on if the beneficiary's personal tax liability can or also be offset, as well. I understand that this doesn't constitute advice and this is just a discussion around these principles.
Hi PK I saw your couple of videos since couple of month. Lots of information which help to all of us. I want to speek with you can I have your details?
What if the home is built in 1990 but I bought it in 2031. Does that mean I cannot get any depreciation. What if the home is recently fully renovated. Does that mean we will again get depreciation for again 40 years.
Depreciation is an expense on an asset. An asset is something that generates revenue. Your residential property is not an asset. Therefore, no, you cannot claim depreciation on your residence.
Pk you are glorifying the depreciation. But the fact is any depreciation you claim reduces the capital value and when you sell the property you pay capital gains tax on a very reduced capital price which makes your capital gains tax due is much higher as the value of the property is much higher in the years to come and the capital gains tax just keeps getting better. So its not wise to get depreciation on small capital values.
