Paul: Good day, guys, Paul Glossop here from Pure Property Investments. Today, I’m joined again by a good friend, Tuan Dong. Tuan is the Principal of Duo Tax and is also a licensed quantity surveyor. What I wanted to, hopefully, talk with you today about, Tuan, was scrapping schedules. Now a lot of investors probably think, “Well, what’s Paul talking about, scrapping schedules? I’ve maybe heard of it once or twice, not necessarily too familiar as far as how that’s ever going to apply to me or what it actually means.” And probably what Tuan, hopefully, will be able to elaborate a little bit on is when we’re looking at undergoing renovations and also aspects around how to actually claim anything that we’re potentially knocking over, is there ability for us to grab some tax money back on that, and hopefully dispel some myths. So Tuan, if you wouldn’t mind letting our viewers know a little more about scrapping schedules? Tuan: Sure. Paul, thanks for having us on. I’d like to elaborate a little bit on the fact that scrapping schedules are something commonly not asked by investors. The sole fact is that they’re not inclined to realize that there are any deductions available, so what, often, we do suggest is when people do come to us to ask for a depreciation schedule, we always ask, “Is this property existing? Is it brand new?” and whether it’s being redeveloped or renovated. We ask them what happened with the existing property, was it under title with their name. So if they’ve held that property prior to knocking down this property, they’re entitled to use a scrapping schedule, and what that is, is generating a depreciation schedule that captures the wear and tear of the existing building prior to being demolished. With that report, they’re obviously entitled to claim the depreciation for not just that period, but once they’ve knocked down that property, they’re entitled to claim the residual value up to, for example, for the five to ten years that might remain. So in that case, so for example, if the client’s got a property that’s held for a couple years before they demolish, so the two years of that depreciation would be already claimed, but going forward, they would be able to write off 100% on the residual value of that depreciation schedule. So once the property has been rebuilt or renovated, a new depreciation schedule would be generated for the purposes of depreciation going forward. Paul: That’s very interesting, and I can always already think of a few properties of clients of mine that potentially have probably not taken full benefit of those opportunities, and I’m pretty sure every viewer who I’ve got who’s undertaken some renovations or potentially some knock-down rebuilds in the past, probably ask themselves right now, “Well what have I missed out on here in the past?” And I think, really, when it comes down to it, the key is engaging a professional to make sure they understand exactly what they can achieve for you, regardless of the property type and the situation of the property. That’s why Tuan’s company exists, and I think that’s where you maximize your opportunities for investors on an ongoing basis. So thanks very much for that. So always as educational as it can be. So, guys, I hope you enjoyed this educational video, and please feel free to give Tuan a call if you do have any further questions. His details are at the bottom of the screen. And we’ll see you soon.