Tax Depreciation Schedule - Quantity surveyors Depreciation Schedule from $385*.Service includes tax depreciation, quantity surveyors, bills of quantities, construction cost estimating, insurance valuation, sinking funds, quantity surveying, bills of quantities for building industry and architects, real estate investment quantity surveyors reports and schedules, Sydney, Perth, Gold Goast, Brisbane, Adelaide, Cairns, Townsville, Mackay, Rockhampton, Central Coast, Newcastle, Darwin, Hobart

Quantity Surveyors 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 2013/4 current legislation as at 1 July 2014 . 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:

  • construction began after 17 July 1985 and the property is used for residential accommodation
  • construction began after 19 July 1982 and the property is not used for residential accommodation (eg. Shops)
  • construction began after 21 August 1979 , the property is used to provide short-term accommodation for travelers and it meets certain criteria
  • 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 within the dates indicated above. All investment properties regardless of age will have depreciating assets.

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. BDSAQS Depreciation Schedule is priced at an affordable fee of $385* inc GST 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.

Internal Links: More information on Depreciation (Investment Properties) Tax Depreciation (BDSA)External Links :Rental Property Guide 2014-2015(ATO)

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