Hi everyone,
I am just curious how many people are using Quantity Surveyors to inspect their properties to calculate depreciation on fixtures etc., and how many are leaving it up to their accountants. I believe Quantity Surveyors are worth their fee, but there doesn’t seem to be many of them around. Thanks for any replies[:X]
DelSeems like a pretty clear case of spending 50 cents to make a dollar to me…[
]Quasimodo
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Funny how action has a way of answering all of our fearful questions…
___________________________________________________________________________Dear Wilandel,
There are a few good ones around. I have used DepPro for a property in Qld; report cost about $440 and was worth every cent. They seem to be the only Quantity Surveyors who specialsie solely in this area, so it’s their whole business. Washington Brown are another company who do it but they’re more expensive. Both have offices in the major cities. There are quite a few others (have a look in Australia Property Investor magazine and you’ll find a few ads), but make sure that they’re properly qualified and that their reports comply with the Aust Tax Office requirements or you’ll waste your money. The report should provide two alternative methods of depreciation: Diminishing Value method and Prime Cost method. Good luck!
HI all,
In my opinion it is worth getting the quantity surveying done.
I am about to get another property done and due to the distance away from the Q-surveyor I will send extensive digital photos and plans of the house, contract, council approved extensions etc for them to view and make the depreciation schedule from etc. It will cost me $495.00
So re: your “doesn’t seem many to be around” I would suggest it might be worth exploring and finding a firm that you feel comfortable with and see if they can do the work based on extensive photographs of your property etc.
Hope that this is some help.
Cheers Isagold[]I have a property which was built over 20 years ago – no building depreciation…., and I have been wondering if it would be worth getting a QS to check the property out. So far my thoughts have been no, as there have been few improvements done to the property nor any new furniture/fittings etc other than a new hotw ater system (which I had put in, so don;t need a QS for that !!).
Hi McMahon & Isagold,
Thanks for the great advice. $440 isn’t much when you look at what they can save you. Isagold, I hadn’t thought of a digital camera. The properties I am buying are up to 3 hours away from Melbourne city, so this makes good sense.
Thanks all for the replies.
Del []Hi Wilandel, have used QS reports, under $300 in our area, Hunter Valley, well worth it. Daughter in Sydney had not used one previously, had it done by Depro and received an extra tax cheque. Anna
Thanks Anna,
You’ve convinced me!! I will give DepPro a ring.
Thanks,
Del[^]I’ve used BMT & Assoc. in Melbourne. They charge $660 GST inclusive, I’ve been quite happy with their report.
Boris
“A good accountant is the one that on question how much is 2×2 answers how much do you want it to be?”
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