Is your rental property depreciation schedule compliant and the best value?

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.

A 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.

More expense reports are only a few hundred dollars more (up to $800 with some providers). 

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.


Need to speak to a property strategist

Contact us @ propertysales@realrenta.com

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Contact us @ propertyloans@realrenta.com

Marlene Liontis
Friday, 20 March 2020

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