Are Depreciation Schedules a Thing of the Past

The podcast for women who want to create income and a life they love through renovating

Join serial renovator Bernadette Janson as she explores the ins and outs of renovating for profit!

Bernadette has over 30 years of experience in the renovating for profit business. She’s a registered nurse, a renovator, a mum, and a teacher.

210 – Are Depreciation Schedules a Thing of the Past

In this episode of She Renovates, Bernadette Janson interviews Tyrone Hyde, an expert in property depreciation. They discuss the changes in tax laws regarding depreciation and how it affects property investors. Tyrone explains the limitations on claiming depreciation for secondhand items and the advantages for those who buy brand new properties. They also touch on exceptions to the rule and the importance of inspections for maximising depreciation claims.

Whether you’re a renovator or a property investor, this episode provides valuable insights into the world of property depreciation and how recent tax law changes have affected the industry. Tune in to learn more about depreciation basics, exemptions, and the importance of understanding these concepts for your property ventures.

Watch the Episode on Video:

EPISODE HIGHLIGHTS:

00:00 – Introduction
00:50 – Background of the guest, Tyrone Hyde
02:50 The ins and outs of depreciation
04:30 Different rules for commercial property and residential property
08:00 Depreciation of new plant equipment installed by renovators
13:00 Importance of keeping receipts and documentation
14:00 Discussion on substantial renovation and guidelines
18:00 Differentiating between repair and capital improvements in renovation projects
19:50 Conversation on living in Bali and the Green School experience
21:40 Launch date for “10 with Ty” podcast (1st of July)

“If you buy a property brand new and you sell it to me one day later, you could claim the depreciation, but the moment I buy it one day old, I can't claim the depreciation of the plant equipment items anymore, which is ridiculous because the tax law says that those items are going to last for 10 years.This, has not happened in any other industry. You can claim a two year old computer for your business. You can claim a five year old car if you're a tradie but for property investors, we got the short straw. And the most bizarre thing is with commercial property, the laws never changed.”

Tyrone Hyde

Resources

Washington Brown Website
www.washingtonbrown.com.au

The School Of Renovating
https://www.theschoolofrenovating.com

She Renovates Podcast
https://www.theschoolofrenovating.com/podcasts-page/

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Join us on the She Renovates podcast as Bernadette and Stephen take you on a journey through their car-bound conversation, unraveling the mysteries of builders, contracts, and roofs.

Learn how to navigate the tendering process, avoid pitfalls, and empower yourself in the renovation game. With over 40 years of experience, their insights are your secret weapon.

Tune in now and discover the keys to creating the home—and life—of your dreams.

“It’s really important to read the contract and if you don’t understand something, ask, just don’t be afraid to ask if something doesn’t make sense or you don’t understand what it is, get them to explain it to you.

If they are asking you to sign their contract, you need to be clear what it is that you’re signing up to.”

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Join us on the She Renovates podcast as Bernadette and Stephen take you on a journey through their car-bound conversation, unraveling the mysteries of builders, contracts, and roofs.

Learn how to navigate the tendering process, avoid pitfalls, and empower yourself in the renovation game. With over 40 years of experience, their insights are your secret weapon.

Tune in now and discover the keys to creating the home—and life—of your dreams.

If they are asking you to sign their contract, you need to be clear what it is that you’re signing up to.”

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August 27, 2024

Join us on the She Renovates podcast as Bernadette and Stephen take you on a journey through their car-bound conversation, unraveling the mysteries of builders, contracts, and roofs.

Learn how to navigate the tendering process, avoid pitfalls, and empower yourself in the renovation game. With over 40 years of experience, their insights are your secret weapon.

Tune in now and discover the keys to creating the home—and life—of your dreams.

If they are asking you to sign their contract, you need to be clear what it is that you’re signing up to.”

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“I have been listening to this Podcast for a few years now. I love how Bernadette freely shares her experiences and knowledge of renovating and how to create wealth through property. There are many people out there doing a similar things but Bernadette is the real deal. Her down to earth approach reasonates with me and I’ve learned lots from her. I’d highly recommend She Renovates!”

“I've been binge-listening to this podcast for the past week and it's absolutely brilliant. Bernadette has amassed so much knowledge and wisdom about renovating and she shares it generously and in a really easy to understand way that's inspired me to give it a go. Her advice is practical and I love that she approaches renovating in a really ethical and open-hearted way. Every episode honestly is gold. I also love that each episode is quite short and addresses a specific topic without any waffle. Thank you so much for this podcast!”

“Hands down best renovation podcast there is. There’s no scams or tricks here and Bernadette provides honest and practical advice that you can actually apply to your life. There’s also great insights into the property industry (not just renovating) and Bernadette’s simple approach gives you tools to mitigate risk and fuels confidence to start your own projects.”

“Bernadette is an inspiration. Warm, open and a fountain of wisdom and advice. I’ve learned so much about everything from renovating to selling to creating an independent future from this podcast. Look forward to every episode!”

“If you need to break through any of your limitations to find the joy and success in renovation, Bernadette is your inspiration and advisor with decades of experience. Her down to earth, practical style of sharing what works and how to keep control of any renovating project is worth tuning in for - week after week. I have done a few renovations in the (distant) past and now feel motivated to go again, this time for a change of pace and new horizons. This podcast shows the way. Thanks Bernadette, James Burgin”

“Just dropping by to show my support for your podcast Bernadette. I look forward to each episode and I am never disappointed with the content. It’s such a generous offering and compared to many of the other property podcasts I subscribe to, yours is the clear winner. Perfectly suited to people embarking on a new renovator journey but equally suited to more experienced folk like myself - there’s something for everyone. Keep up the great work. Your honesty is so refreshing! I look forward to future learning and hearing more student success stories. Best, David Michos (And yes... a bloke) 😉”

“If you have any interest at all in renovating, you would be crazy not to listen to every episode! As someone who has done many courses and a project manager by trade, i learn something every time. Bernadette is so genuine and generous and totally relatable. Do yourself a favour and subscribe now !”

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The podcast for women who want to create income and a life they love through renovating

210 – Are Depreciation Schedules a Thing of the Past

Watch the Episode on Video:

Related Posts

252 – Do You Ever Have Criticism About Your Renovating Ambitions?

251 – The Power of a Vision Board with Elizabeth Gordon

250 – How Accurate Property Valuations Can Boost Your Renovation Success

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