What is a Quantity Surveyor? 

quantity surveyors are 

construction costing professionals

A Quantity Surveyor is one of a team of advisers to the construction industry. As advisers they estimate and monitor construction costs, from the feasibility stage of a project through to the completion of the construction period.

Australian Institute of Quantity Surveyors (AIQS)

Quantity Surveyors who are also depreciation experts are particularly skilled at costing construction works historically.  Frequently we are required to estimate what the cost of construction was for a property that was built 1, 10, 20, 100 years ago.

That means costing up materials, labour, consultants fees and preliminaries.  Additionally, as costing experts we professionally estimate the value of plant and equipment assets included in a residential property or commercial building.

Quantity Surveyors are typically degree qualified with a Bachelor of Construction Management, or something similar.  It is these qualifications, along with official registration as a Tax Practitioner that makes Quantity Surveyors one of the few professions recognised by the ATO to estimate construction costs for depreciation purposes.

Buildings are depreciated from their construction cost at the time they were built, not their purchase price or their market valuation.  That is why it is important to have a recognised professional such as a Quantity Surveyor prepare your depreciation schedule for ATO compliance.

Accountants, real estate agents and valuers are not recognised by the ATO as having the appropriate qualifications and skills to estimate construction costs for the purpose of depreciation.  

 

What is Tax Depreciation and how does it work for investors ?

Depreciation is one of the largest tax deductions available to owners of investment property.  

Our clients average $6,000 to $12,000 in deductions in the first year alone, and tens of thousands of dollars over following years.

Learn more

How much depreciation could I claim on my investment property?

Deductions vary in accordance with the property type, age and the works completed on the property over time.

With a few brief details we can conduct a free desktop estimate of deductions specifically for your property.  

Worried there aren't enough deductions in your property to make it worthwhile?

We will always advise if we don't believe a depreciation schedule will be worthwhile for you.

That means, if we don’t identify at least $2,000 in deductions in the first year – to ensure our fee is entirely covered in that first year – there will be no charge to you.  

That applies even if the first year is only a few months or a few weeks worth of deductions!

Ours is the best guarantee in the industry!

Myth Busted!

Old properties aren't worth a depreciation schedule

Time and time again, we hear of investors who have missed out on tens of thousands of dollars in legitimate tax depreciation deductions because they believed their properties were too old to be eligible.  The myth of old properties not being worth a tax  depreciation reports is busted day after day by leading tax depreciation specialists.

 

Myth Busted!

All depreciation reports are the same

Not all tax depreciation schedules are equal. Whilst the ATO prescribes standard rates for effective lives of construction and plant and equipment items, the varied methodologies used by depreciation service providers can result in thousands of dollars of difference in the final schedule outcome. A quality depreciation schedule improves the cash-flow position of a property, sometimes substantially, and can impact on the overall investment strategy adopted by investors.

Myth Busted!

Accountants can take care of depreciation

Accountants are not qualified to estimate construction costs, which includes more than just materials and construction labour.

For example, accountants are not qualified to estimate construction works and associated costs of previous works over the life of the property.

 

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