3. When do I need the depreciation schedule and how often should I have it prepared?
You should get the depreciation schedule prepared straight after settlement, if possible. That way the quantity surveyor will see your property in the true state of what you have purchased. And if the tenant hasn’t moved in yet, that’s a bonus, as it will avoid disruption.
The good news is – you only need to have the depreciation schedule prepared ONCE – not every year as some people think.
