Construction Expenditure 40-year Schedule
Division 40 - Plant and Equipment Valuation both Method Prime and Diminishing
Optional no additional cost, Capital Loss Schedule instead of Div 40 for properties purchased after 9 May 2017 and not new, this includes property that was main residents and rented on or after 1 June 2017.
Optional LVP (low value pool), please note low value pool accelerates deduction Div 40 - Plant and Equipment. This method may not to suitable for long term real-estate investment, please consult with appropriate tax advisor.
Construction Expenditure 40-year Schedule
Division 40 - Plant and Equipment Valuation both Method Prime and Diminishing
Optional no additional cost, Capital Loss Schedule instead of Div 40 for properties purchased after 9 May 2017 and not new, this includes property that was main residents and rented on or after 1 June 2017.
Optional LVP (low value pool), please note low value pool accelerates deduction Div 40 - Plant and Equipment. This method may not to suitable for long term real-estate investment, please consult with appropriate tax advisor.
Our Quantity Surveyors have prepared a large number of depreciation schedules. As a result, we found that regardless of how much a company charges, the estimate should always be similar. An experienced quantity surveyor will use their knowledge and resource available to produce an accurate estimate.
The construction cost is calculated based on historical data when the property was constructed, the calculation is based on the size and quality of construction.
If the information to complete your property is not available we may ask you to provide further information such as photos, plans etc.
Are cheap depreciation nasty and not worth the money? Well, it all depends on the qualification and expertise of the QS that is preparing the report. If audited, will your QS be able to show how they estimated the cost? Will your report be individual specific to your property not computer generated?
We provide personalised service. Every report is prepared with care. Every report is consistent with ATO legislation.
What about large QS firms? Are depreciation schedules better? Imagine a large corporation that prepares 33 thousand reports per year. Quality control? Personalised Service? Supervision? Do you engage a large accounting firm for your simple tax return or do you engage a corporate firm?
Our price is competitive, our reports are prepared by qualified Quantity Surveyors, members of AIQS and Registered Tax Agents.
All prices are GST free. We are a boutique service. We work one on one with our clients.
Please note the cost of the tax depreciation schedule doesn't include valuation of furnishing ie: airbnb and short-term accommodation, additional fee applies for fully furnished properties.
We invoice on completion, report will be released once the payment has been received.
Due to legislation changes in 2017, the secondhand property will not qualify for a total depreciation deduction, ie. rental property assets (Plant and Equipment Div 40). This only applies to properties purchased after 9 May 2017 or if the property was previously a residential address and rented after 1 July 2017. This rule doesn't apply to new properties, company-owned or commercial properties.
In all cases where the property is not new and purchased after 9 May 2017, the deduction is only for Construction Cost Div 43, excluding property depreciation assets. Div 43 is based on historical construction costs post 1987 and calculated @ 2.5%. We have access to extensive construction cost information and can accurately calculate construction cost for all properties. Please refer to our schedule of fees for properties requiring inspection. Price list.
We aim at delivering reports within 48 hours. For properties with detailed assessments, such as being fully furnished or requiring inspection, the report may take up to 10 days from the date of inspection. We will advise on such time changes and if we need additional time due to further information delays.
With over 35 years of experience, we understand construction costs. Our tax depreciation service is fast and accurate. We have extensive knowledge of property and tax.
