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