Terms & Conditions For Depreciation

Ailo provides tools to manage and report depreciation on Assets associated with a property. From time to time an investor may decide to utilise this Depreciation Management Service.
Using Ailo for Depreciation Management
Under this arrangement:
  1. Ailo is providing the Depreciation Management Service in partnership with a Depreciation Service Provider.
  2. Investors who agree to use the Depreciation Management Service will be directed to the Depreciation Service Provider who will provide a Depreciation Schedule on the Assets detailed.
  3. Ailo is providing the tools (via the Ailo platform) to:
    1. Connect to the Depreciation Service Provider
    2. Collect information on the Assets associated with the property
    3. Facilitate the creation of an Asset depreciation report
    4. Provide end-of-year statements detailing the depreciation associated with the Assets
    5. Pay the fees associated with the Depreciation Management Service
  4. Ailo will not be responsible for any depreciation reported upon or detailed in a statement as a result of asset data details incorrectly supplied, not supplied or supplied late.
  5. Ailo is not liable for any depreciation advice supplied by the Depreciation Service Provider. Before acting on any information or advice on depreciation, you should consult your accountant, to ensure you are adhering to the accounting practice and processes relevant to your jurisdiction.
Depreciation Service Agreement
  1. The service fee is $59 (inc. GST) per month per property.
  2. The service has a minimum commitment of 36 months.
    1. If the service is cancelled prior to 36 monthly payments being made, the customer will be required to pay any outstanding fees to the minimum value of 36 months of service fees ($2,124).
    2. Cancellation requests must be made via email to support@ailo.io.
  3. Ailo will commence the service after receiving confirmation from the Depreciation Management Service that the investor has agreed to these terms and conditions.
    1. Agreement to these terms must be made to the Depreciation Management Service over the phone or by email.
    2. It may take up to 1-2 days for Ailo to initiate the depreciation service after receiving confirmation.
  4. Billing will be monthly, in advance of service delivery, and will start immediately once the depreciation service has been initiated.
    1. Payment will be deducted from the Investor's Ailo wallet automatically. If funds are not available, Ailo will deduct funds when rent is next paid.
    2. Ailo do not accept alternative payment methods for the depreciation service.
  5. Customers are entitled to request a refund on fees paid if the value of deductions found by the Depreciation Management Service is less than twice the value of the service fees paid up to that point within the same tax year.
    1. In order to be eligible for this refund, the Depreciaition Management Service quote created prior to commencing the service must be above the refund threshold ($1,416).
    2. If the investor chooses to continue with the service with a quote below the refund threshold, the investor waives their right to the refund.
    3. Refund eligibility requests must be made to support@ailo.io.
Definitions
Asset means those items or fixtures associated with a property, i.e. electrical appliances, carpets, curtains, extensions etc, that can be depreciated and accounted for as part of a tax return.

Depreciation Management Service means the service, provided in partnership with a Depreciation Service Provider and facilitated via Ailo, that generates a depreciation report for a property investor.

Depreciation Service Provider means that a vendor, selected by Ailo from time to time, offers depreciation services to property investors facilitated by Ailo.