DEPRECIATION AND CHATTELS: WHAT TO DO?

Woman wondering

Depreciation and Chattels: What to do? We here present answers to some common FAQs on the subject of Depreciation, provided by Valuit. Q. We are going to get a chattels apportionment completed but do we need to have it done by a certain date?A. The simple answer is “usually no.” Depreciation reports are always best completed…

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WHY YOU SHOULD (ALMOST) ALWAYS GET CHATTELS VALUED

Why is a chattels valuation necessary?Typical valuations assign a valuation to chattels of $10-15,000. However, they often miss many depreciable items, such as driveways, fences, decks, paths, hot water cylinder, letterbox, garage door motor etc.  When you obtain a chattels-specific valuation, typically the value of the chattels for a new home is $45-50,000+ and for…

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