Whilst there can be a substantial difference between the quality and results of a cheap depreciation schedule and a more expensive one, thankfully the difference in cost is minimal, especially when you consider the cost is 100% tax deductible.
cheap report can cost a few hundred dollars, but will likely require you to
inspect the property and provide a lot of information yourself. This can
be very inconvenient and expensive for many people, no to mention that most
people are not sure what to look for. These schedules are not likely
to factor previous renovations and improvements or apply low cost and low value
pooling for better results.
expense reports are only a few hundred dollars more (up to $800 with some
These schedules are far more convenient, and will generate a
far better result for the investor.
A few hundred dollars extra up front
can mean tens of thousands of dollars more deductions in the future.
· Ensure your Quantity
Surveyor is a registered Tax Agent – registered with the Tax Practitioners
Board of Australia;
· Use a specialist
provider - not all quantity surveyors are also tax depreciation
specialists. A specialist knows not only construction costing but tax
legislation as well;
· Ensure your report
includes the features listed above;
· Check out your provider
so you can feel more confident they will still be around in a few years in the
case of an audit or lost schedule.
to speak to a property strategist
a property or construction loan?
Friday, 20 March 2020