Hi Investors
I am looking into using a group called Depreciator for a depreciation schedule for a negatively geared property in Townsville. The cost is around $750.
I have a few questions I hope others may be able to help me with:
1 – Does the ATO require a licensed quantity surveyor to provide values for depreciation, or can this be done by a lay person, providing they have evidence to back up their values?
2 – Does $750 sound like a good price for this service or have people got it for less?
3 – Has anyone out there dealt with Depreciator before? Was it a good experience? Who else does this sort of work in FNQ?
4 – Any other advice or insights into the world of claiming depreciation?
Your assistance is muchly appreciated!
That just happens to be my limosine right outside
I used Depreciator and can strongly recommend their services.
Cheers,
Simon Macks
Residential and Commercial Finance Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
I agree; DEPRECIATOR is a great company and I found them to be very efficient, I walked round the IP with the QS, learnt a lot and appreciated that he respected the tenant’s privacy.
You wont be disappointed with the service..and according to the QS I had on-site they treat him like part of the family and back him up with their knowledge of the tax laws and changes..
Scott from Depreciator is a member on this site if you have any questions PM or e-mail him..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorOriginally posted by billyray:1 – Does the ATO require a licensed quantity surveyor to provide values for depreciation, or can this be done by a lay person, providing they have evidence to back up their values?
2 – Does $750 sound like a good price for this service or have people got it for less?
Yes you do need a QS – a lay person or an accountant is not sufficient.
and Yes – go ahead and use Depreciator, as has already been said – Scott is a member of this forum
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auThanks Redwing, Michael and Simon.
Hi Billyray,
The price would have been $715, not $750. And for members of this forum, there is a discount – down to $660 GST inc.
We’re dearer than some, and cheaper than others. I’ve seen some cheaper reports that are not ATO compliant.
We use Quantity Surveyors to carry out inspections and costs building/assets. One big company in this industry doesn’t.
A layperson is able to put values on assets: stove, carpet etc. A layperson is not able to value building work. QSs are at the top of the ATO recognised pile for this job, but some builders also have the requisite qualifications.
If your house is pre 85 I can probably help you over the phone for no charge.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auDepreciator,
Very effici[specool]ent, good value, highly recommended!
hrm
Originally posted by depreciator:Thanks Redwing, Michael and Simon.
Hi Billyray,
The price would have been $715, not $750. And for members of this forum, there is a discount – down to $660 GST inc.
We’re dearer than some, and cheaper than others. I’ve seen some cheaper reports that are not ATO compliant.
We use Quantity Surveyors to carry out inspections and costs building/assets. One big company in this industry doesn’t.
A layperson is able to put values on assets: stove, carpet etc. A layperson is not able to value building work. QSs are at the top of the ATO recognised pile for this job, but some builders also have the requisite qualifications.
If your house is pre 85 I can probably help you over the phone for no charge.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auHow good is that!!
Simon Macks
Residential and Commercial Finance Broker
6.29% Variable Rate available now![email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi All
Thanks for your comments and assurances.
Scott, I look forward to your reply to my PM. Thanks for your kind offer to help.
Cheers
BillyrayThat just happens to be my limosine right outside
hi billyray
sorry to add this to your post but can scott send me an email to [email protected] I can’t cut and paste your email address for some reason.
I would be interested in what you do and costs. for multi storeys sydney cbdhere to help
Hello everyone,
Great topic..
How soon do I have to do a TDS after buying IP.. We are looking at our 1st IP and are hoping to settle in Oct/Nov.Jie-ji
Years ago your accountant used to do this for you..now a good one no longer will..
It’s worth getting it done and done properly..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi Billray,
We have used BMT twice and found them very good.
Usual fee is $600 and they have a office in Townsville.
Reports seem to be very thoroughMIKALA
Hi Lie-ji,
It’s up to you when you get your Schedule done. You’ll need it to complete your 05/06 tax return, so you can wait a while.
Our biggest challenge is tenants. Most are great, but some are uncooperative. Our worst ever stood one of our QSs up 6 times I think. On one visit he was home and yelled through the door that he was going to break the QS’s legs.
If the QS can inspect before you have tenants, or between tenants, that is preferred.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.aufor what it’s worth Scott from Depreciator did a great job with my two IPs!
Their online system is very efficient and fast to use – no faxes etc – all online!
i just got my tax return for this year… was worth every penny!!!
rgds
wayne
Wayne Leech
*Below are links to my websites – any feedback, comments would be appreciated:)
http://www.holidayhomeswa.com.au – Holiday Homes in Western Australia
http://www.wheretostaywa.com.au – Accommodation in Western Australia
http://www.homesearcher.com.au – List your property for FREEbillyray
I would recommend Depreciator, they do an awesome job, I have used them for two of my properties now and I am very impressed with..
– price
– quatlity of the report
– service quality
– quick response to questions
– great customer service & follow upIt seems that many others on the forums have used them and are impressed so I guess that should give you a good indication! [grad]
Dev* [kid]
also, Scott from Depreciator is a property investor himself so at least you are dealing with a like-minded person!
Yes, it’s interesting the number of people in this business who aren’t investors. QSs in particular tend to be very cautious by nature.
ScottTax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.auHey Billyray (you got a mullet, perchance?)
I’m not normally into testimonial type things, but I have found Scott of Depreciator very nice to deal with. I am very much into “customer service”, and I’ll always deal with someone who is sane, rational and patient- any time- over business people who have poor interpersonal skills. Scott’s a good bloke and I’ve found my QS reports have been a lot more professionally undertaken than some others I’ve seen.
kay henry
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