Cost of Depreciation Schedule?

Viewing 7 posts - 1 through 7 (of 7 total)

livelife
Member
@livelife
Join Date: 2003
Post Count: 24
April 14, 2004 - 2:25 pm
Hi Everybody
Could you please post here what is the cost of depreciation schedule.
Does it vary between capital cities. How much is it in Perth and Brisbane? Does it depend on the value/type of property?
I would love to know what are the prices that QS charge.
I am looking to buy a brand new villa unit in Perth (3bdrm, 2bth). How much should I expect to pay?
Thanks
cobra8272
Participant
@cobra8272
Join Date: 2003
Post Count: 54
April 14, 2004 - 3:11 pm
Hi
Try Deppro
i think its
http://www.deppro.com.au
they quoted me approx 500 -550 from memory but it does depend on scope of schedule and size of property
or
check quantity surveyors in Perth yellow pages
rgds
Cobra
davidfemia
Member
@davidfemia
Join Date: 2003
Post Count: 89
April 15, 2004 - 2:30 am
Hello,
You can expect tp pay anywhere from $440 to $710.
Some QS’s dont vary their rates unless its in a regional area.
David Femia
http://www.femiapropertygroup.com.au
gmh454
Member
@gmh454
Join Date: 2003
Post Count: 537
April 15, 2004 - 3:04 am
If brand new, then the builder developer often (afterall he has the records of the costs ) has prepared one, as a selling incentive.
From experience, schedules prepared by the developer/builder are a lot more generous than a QS.
Not saying QS are wrong, more that developers are creative with the schedules.
Get your solictor to rattle the builders cage.
woodsman
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@woodsman
Join Date: 2004
Post Count: 714
April 15, 2004 - 3:40 am
I have paid $600 plus GST in Melbourne. Just recently I have paid $300 plus GST in Qld (on the Gold Coast).
James
depreciator
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@depreciator
Join Date: 2003
Post Count: 541
April 15, 2004 - 4:32 am
Gee, another QS question.
My price (Depreciator) is $715 GST inc. That’s for any type of residential property in all capital cities (except Hobart). I also have guys on the ground in lots of regional centres and the price is the same – Cairns, Townsville, Bundaberg, Rockhampton, Gladstone, the Sunshine, Gold and Tweed Coasts, Coffs Harbour etc etc.
How about for readers of this forum I give a discount? Let’s say $660 GST inc for any areas where I have guys on the ground. You’ll have to mention this offer to the boys when any of you call.
Now, you can get cheaper schedules in some places if you shop around. I saw one yesterday. It was wrong and wouldn’t pass an audit. It was also incomplete, so that client’s accountant would have had to spend 45 minutes finishing it. And guess who pays for that?
As for developers schedules, yes they are often more generous than ones prepared by QSs. Why is that? Because often whoever is marketing that property needs the schedule to be generous so the property look more attractive for potential purchasers. These schedules won’t pass an audit either. Now, if a schedule has mistakes in it, who gets into strife? The taxpayer – you. The ATO holds you responsible because you chose to use the schedule.
We’ve got an open offer with all our clients that if they have a schedule prepared by a developer, we’ll look at it and point out the errors so they can get the developer to fix them. We do this for no charge.
Back to the price, remember it’s 100% deductible, so saving a few dollars doesn’t really justify the risk if you end up with something that is going to possibly get you into trouble.
Call the boys if you have any questions 1300 660033. They’ll also be able to work out over the phone whether there is enough depreciation in your property to make it worthwhile commissioning a schedule.
Scott
manchil
Member
@manchil
Join Date: 2004
Post Count: 1
April 20, 2004 - 3:04 am
I concur with Scott from Depreciator.
Also, you need to be mindful that there are two types of deductions available; depreciation on depreciable assets and capital allowances on the construction cost of the building.
Depreciable assets are things such as white goods, carpets and furniture, that are depreciated at differing rates. Where as the construction cost allowance is basicaly the building cost (less specific costs) depreciated over 40 years or at 2.5%/year. Generally this is available to residential buildings constructed after 1985. There are many variables to determine if a taxpayer is entitle to deductions.
Our firm charges $620 for a Capital allowance and Depreciable asset schedule, however we only work on the Sunshine Coast, or venture to the Gold Coast if we have more than three schedules to do, as an onsite inspection is required. Furthermore, we charge an extra $120 to analyse furniture packages.
Malcolm (07) 5446-6755