I was advised by an external party financial advising company to obtain a depreciation schedule for my investment property. However, after speaking to my accountant regarding this, I was advised that they will only work/accept with one specific company for depreciation schedules. Should I get rid of my accountant? Prior to me speaking to them about a depreciation schedule for property they had never brought it up.
What would you like clarification on?
Yes there is only one way to resolve the problem and it's up to you to move as the accountant had the info and did not work in your best interest in minimising your tax.
The depreciation schedule needs to be done be a qualified company that does depreciation schedules for tax purposes and there is way way way more than ONE, just like accountants.
So long as they are licences quantity surveyors. Not sure what he’s on about
Should I get rid of my accountant?
I know some bikies who can help you with that.
Another bikie comment. Thought I was back in 2018 for a second.
IF you accountant was aware you had an investment property, then they should have brought to your attention the desirability of a formal depreciation schedule at the time they first did your tax returns.
Based on the information you have provided I would look to change to a more pro-active accountant
Get rid of accountant.
Ask the company to provide depreciation schedule since the date you acquired IP. Once it becomes available, amend tax return.
BMT and Washington Brown are considered the better of the QS's. Is it one of these your accountant only works with?
Yeah, one of these were mentioned
Just get a BMT report, it's the one everyone gets.
This is ozbargain, not oztheoneeveryonegets
This makes no sense.