Quantity Surveyors Depreciation Schedule

Depreciation Schedule for investment property, to claim your tax deduction for investment property order tax depreciation schedule prepared by BDSA Quantity quantity Surveyors.

ORDER REPORT

PROPERTY DEPRECIATION REPORTS FROM $385*

Competitive Prices, fast turnaround, accurate depreciation schedule. All prices GST inclusive (lower price condition applies)

Depreciation Schedule A Simple Definition

Why Depreciation Schedule?


All assets wear out. In taxation terms, the assets useful life is recognised through a decline in value over time, known as depreciating assets. When you acquire an investment property that derives income, being rental or commercial, you acquire depreciating assets. The Australian Tax Office allows a tax deduction for the reduction in value of those assets. The reduction value is calculated by using “depreciation rate”, this rate depends greatly on the type of assets. The “depreciation rate” is set by Commissioner of ATO, a comprehensive list is available under TR 2016/ current legislation as at 1 July 2016 . All depreciating assets are deductible under Division 40 of ITAA 1997.

The Construction Cost of the building itself is deductible “Capital Works Deduction” Division 43 of ITAA 1997. Your property will qualify for the deduction if:

  1. construction began after 17 July 1985 and the property is used for residential accommodation
  2. construction began after 19 July 1982 and the property is not used for residential accommodation (eg. Shops)
  3. construction began after 21 August 1979 , the property is used to provide short-term accommodation for travellers and it meets certain criteria
  4. The deduction for “Capital Works” is at the rate of 2.5% or 4% depending on the date the capital works began.

All investment properties, regardless of age will attract “Capital Works Deduction” if capital refurbishment works have been undertaken. All investment properties regardless of age will have depreciating assets*.

From 9th May 2017, new budget decision disallows Div 40 for older property, if you settled on investment property on the 9th of May at 7.30pm you may be disqualified from claiming Div 40. This is exempt for new properties, commercial properties, residential property purchase within a company, large superfund but not self manage funds and large unit trust. A new property may be one where GST was included in purchase price.

BDSA QUANTITY SURVEYORS DEPRECIATON REPORT

DEPRECIATON ORDER TIME LINE

OUR PROCESS
  • 1. ORDER REPORT

    Complete Our Client form giving us authority to work for your

  • 2. CONTACTING AGENT - TENANT

    This is a process when we contact your property manager or tenant, if no delays and access granted we can continue finalising your report, if delays occur we will contact you. Please note some properties may not require inspection our service will be quicker and at reduced cost.

  • 3. PROPERTY INSPECTION

    We organise inspection of your property, normally inspection can take 30-60min depending on the size/type of your property..

  • 4.DATA COLLECTION

    All information is collected and provided to our Head Quantity Surveyors, the report is ready to finalise.

  • 5. INVOICE ISSUED FOR PAYMENT

    Report is ready and we will invoice you for payment, once the invoice is paid by credit card or direct deposit, we will issue the report, we do not issue reports before payment.

REPORT EMAILED

BDSA DEPRECIATION REPORT ADVANTAGE

PROFESSIONAL SERVICE

The BDSAQS Depreciation Schedule is a comprehensive report of allowable assets, depreciation rates and the depreciation deductions prepared by qualified person as required by Australian Taxation Office TR 97/25. Directors of BDSAQS are qualified Quantity Surveyors that are recognised by Australian Tax Office TR 97/25A as appropriately qualified to estimate construction cost. From 1 of March 2010, person or company preparing tax depreciation schedules are required to be registered with Tax Practitioners Board, tax depreciation schedules are considered to be provision of Tax Agent Service and for this reason any person or company providing such service are required to be registered as conditional Tax Agents, www.tpb.gov.au. BDSA Quantity surveyors are registered Tax Agent company and the directors are registered individual tax agents. What this means to you? When you deal with BDSA Quantity Surveyors you are assured that your report complies with ATO audit.


The BDSA QS Depreciation Schedules covers 10 years for all the allowable assets and 25 or 40 years for Capital Works Deduction depending on construction date. BDSA QS employs experts in the field of Tax Depreciation, the combined knowledge of construction costing and taxation makes BDSA QS an excellent choice when choosing quantity surveyors for your investment property Depreciation Schedule. BDSA QS Depreciation Schedule is priced at an affordable fee that is tax deductible section 25-5 ITAA 1997 ID 2002/650. ( *Price may vary due to travel and possibly an extra cost of valuing fully furnished properties, please note the price may be higher for commercial properties. We offer discounts in some locations and the price may start from $385 incl GST).


We would be happy in assisting you in maximising your returns on your investment. Request a quote for a comprehensive Depreciation Schedule.

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