New Smoke Alarm Legislation: What Does It Mean For You?
After many deaths and house fires the government has decided to put in place legislation to help home owners with early detection of fires in their house. The new legislation comes into play at three vital dates:
1st January 2017 all new houses and signifigantly renovated houses with building approvals after 1st January 2017 must comply.
1st January 2022 all sold houses and rental properties must comply
1st January 2027 all other domestic residence
Smoke alarms are required on each level of the house, in each bedroom and located in egress paths. The smoke alarms must be 240V photo electric and interconnected with all other smoke alarms. There is an exception with existing houses they can be battery operated as long as it is a photo electric smoke alarm with 10yr sealed lithium battery and still interlinked.
Are All Smoke Alarms the Same?
Glad you asked you asked, it’s the same as usual here you get what you pay for in most circumstances. The way we look at it is that you are buying a smoke alarm that you want to last 10years (max life of any detector) so it pays to get quality over price. We generally use Brooks smoke alarms as they have a long history in the market, quality manufacturing and support and are also widely used in Europe.
If you want to book one of our trained technicians to take a look at your alarms contact your specialist property management company in Brisbane at ARRIVE – firstname.lastname@example.org 1300 913 820.
Good news – only applies to properties purchased after 9th of May 2017.
The Federal Government has proposed adjustments to depreciation legislation in the 2017 Budget.
Under the new rules which are yet to be legislated by Parliament, investors will be able to depreciate new plant and equipment assets within a new property and items they add to their property; however subsequent owners who acquire a property after 9th of May 2017 will not be able to claim depreciation on existing plant and equipment assets.
Investors will still be able to claim qualifying capital works deductions, including any additional capital works carried out by themselves or a previous owner.
The budget notes were clear that existing investments will be grandfathered. This means that anyone who has purchased a property up until the 9th of May 2017 will be able to claim depreciation as per normal. The new legislation will be in force from 1st of July 2017.
If your clients fall under this category, they can still claim depreciation on plant and equipment assets for both new and second-hand properties.
We are currently speaking with government to further understand the intricacies relating to the budget notes and the proposed changes to depreciation and equipment assets.