FTA-TV The Block 2024

[Royces Hart]

For accountants, the girls from H1 sure did have a blank look on their faces, when Scotty asked them if they knew what a depreciation schedule was.

 

[Carn The Berries]

For accountants, the girls from H1 sure did have a blank look on their faces, when Scotty asked them if they knew what a depreciation schedule was.

Not just accountants... Accountants who flip houses...

 

[BlakeyNoFlakey]

Calculating a depreciation schedule on a huge asset like that is pretty complicated. Besides, the girls said they work in finance, which means they probably have little experience in asset depreciation. Flipping houses doesn't mean they'd know either, as not ALL houses sold are eligible to claim depreciation; it only applies to homes bought to rent (like The Block houses will be sold to rent as holiday homes). So, if the girls had sold their flipped homes to owner/occupiers, then it would never have even come up because that kind of buyer can't claim depreciation on their tax for that.

 

[Carn The Berries]

Calculating a depreciation schedule on a huge asset like that is pretty complicated. Besides, the girls said they work in finance, which means they probably have little experience in asset depreciation. Flipping houses doesn't mean they'd know either, as not ALL houses sold are eligible to claim depreciation; it only applies to homes bought to rent (like The Block houses will be sold to rent as holiday homes). So, if the girls had sold their flipped homes to owner/occupiers, then it would never have even come up because that kind of buyer can't claim depreciation on their tax for that.

I don't think anyone is doubting how complex the actual process is to calculate the value (as highlighted by the fact that the team that put the least amount of science into their estimate won the challenge).

Aside from working in finance, they also have stated a few times that their old man is a mortgage broker. Combining those 2 things says to me that they should be a lot more likely to at least know what a depreciation schedule is than the average punter.

 

[BlakeyNoFlakey]

Even if they did know about it doesn't mean they knew how to do it, even if their father is a mortgage broker. IIRC, Maddy said she made a mistake in the calculations on the night but still managed to get the second closest to the right amount. That's not a bad effort. I think you're being a bit harsh. What you are saying is if someone is a doctor, they should know how to do open heart surgery, especially if their father is a cardiothoracic surgeon. Life doesn't work like that.