Construction Expenditure 40-year Schedule.

Division 40 – Plant and Equipment Valuation both Method Prime Cost and Diminishing Value.

Optional no additional cost, Capital Loss Schedule instead of Div 40 for properties purchased after 7.29 pm on 9 May 2017 and not new, this include property that was main residents and rented on or after 1 June 2017.

All reports include common area calculation, all reports include renovation from current and previous owners if applicable.

We prepare a depreciation schedule in line with % of ownership, all owners are included in the schedule and the % of the deduction is available for each owner.

Our depreciation schedule starts from the date the property was first available for rent ie. the report is pro-rated for the first year so you know exactly how much you can claim. We can backdate the report as per your accountant’s advice. 

Please complete the above form, once we receive your information, we will assess if the property is eligible to claim depreciation. If you prefer instant review check our Free Property Review Page

If your property has allowable depreciation, we will contact you by email.

Upon completion of the report, we will issue an invoice with payment, once payment has been received, the report will be emailed to you.

Please note you will only need this report as long as this property is deriving income, you will not require a new report every year. If you have new additions, we can include them at a small cost and amend your report.

Our Quantity Surveyors have prepared a large number of depreciation schedules. As a result, we found that the estimate should always be similar regardless of how much a company charges. 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 depreciation report is not available, we may ask you to provide further information.

Are cheap depreciation nasty and not worth the money? Well, it all depends on the qualification and expertise of the QS that will be 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 small firm for personalise service?

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, the report will be released once the payment has been received.  Inspected properties require a 50% deposit.

Due to legislation changes in 2017, properties that are not new will not qualify for a full depreciation deduction, ie. rental property assets such as ovens, carpets, air-conditioners etc. or Plant and Equipment Div 40 will not be depreciated.

This legislation 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 and will exclude property depreciation assets as specified above.

We have access to extensive construction cost information and can accurately calculate construction costs for most of the properties. If information is unavailable we will advise on the next step to proceed with an accurate schedule.

Would non inspected property depreciation schedule be an issue with ATO? If the Quantity Surveyor can show how they worked out the construction cost, and show documented calculation, we don’t see how this type of valuation would be rejected. With the law of due diligence, would the court accept such a valuation? The issue we see is where the QS deliberately overestimated the deduction, not only this is a fraud but such an overestimating bounces back to the taxpayer through capital gains, this only benefits one person. “Double your deduction or your money back”

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.