Forum Replies Created
- Originally posted by TeacherK6:
Hello,
I heard the word “Quantity Surveyor” tossed up every now and again, and didnt really take much notice, but after the recent discussion on this post i would like more info please.
1) Is it a standard thing to back date tax deductions
4 years if they find that u still had stuff to claim?2) I didnt actually realise that they personally inspect the property. how long does the inspection take, what info will they need to know on the properties background before doing the inspection
3) if they charge between $300 and $1000 dollars per property, whats the price difference pay for? what do u get at the end of the inspection?
4) is the cost a tax deduction?
5) my accountant always claims some sort of deduction on the property i have for depreciation, will the QS do a better job at finding every cent that i can claim?
6) My portfolio has 5 properties, 3 houses, a villa and a unit, ranging in purchase price from $144k to $52 k 2 are in sydney, 1 in dubbo, 1 in bathurst, 1 in cowra. will it be hard, or cost more to get a QS the the reigonal parts of NSW? all properties are over 20 yrs old… some are renovated, some have been freshened up by myself… would the services of a QS still be worth my while?
Anyone recomend a QS that they are happy with???
Thanx for your help. all info apreciated
Jason [
]Jason
If there are tax deductions that you have missed out on (for various reasons), then you can legall amend your tax returns for up to 4 years.
I don’t think they need to know much, you just send them out and they list all fittings and determine the value. It would help if you could give them some background. The whole thing should take about an hour.
There are many different companies. smome are more professional than others and charge accordingly. Some companies have been know to get things incorrect (eg Kitchen cupboards – are they part of the building or a fixture). The rules are changing all the time.
If you are audited and have only relied on your accountants estimates, then your claims will probably disallowed. Is he a qualified QS? Has he even seen the proeprty?
If you have many proeprties you may get a discount, but would have to use a big company (they may subcontract the work out in the country areas). I think it would still be worthwhile to give them a call and sus them out about your older ceahper properties.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
