Hey Guys, anybody tell me if a quantity surveyor can help with properties pre 85 for depreciation purposes?
Hi – we just had one done of our property which was built in 1948. Defiantely worth doing imho. Cheers
Thanks maree, do you know if renovations done are deductable? Or can be depreciated?
Hi Nejas,
I've got a post war cottage in brisbane and i had a quantity surveyor look at it, we have renovated the laundry, outdoor patio area and the kitchen had been done by the previous owner. The report cost $600 and lasts for 10 years. the report covers everything you need and although i didn't get what most of it meant or was needed for, my accountant did and it helped for my tax. I went through BMT & Assoc. They go the job done fairly quickly considering I live in the NT. If you have read Margaret Lomas's books she mentions BMT & Assoc. I didn't go with them because of this, as i have only started reading her books a few months ago, but i guess there is 2 recmmendations. Just so you know they haven't paid me for that. Everything was sent through email and i printed out the report for the accountant my self. You can get them to send it to you if you want but having it in email was easier then waiting for snail mail. I am sure that you would of had some work done to the property that is after 1985 so they can work on it. everything from aircon units to hot water systems to the oven can be used to help to reduce the tax amount you pay. I will use BMT again as it was just easy, when you contact them if you have the invoices at you finger tips for any works you have done then it will help them so that they don't need to estimate what the cost of the works was. They will get the original construction amount from the council. The more info you can give them the faster they can get the report back to you.
Good luck
Damo
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