chasing recommendations for a quantity surveyor in brisbane to do a deprication schedule
who to use and who not to use
pm me if you don't want to name publicly
cheers ledgend80
I have used and referred to client Depreciator.
Cant go too far wrong with the right sized firm.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
is there any real benifit to having a quantity survey done on our house as it was built say in 1975 and all we could depricate is what renovations we have done. some rule if it was built before 1987 you can't depricate it any further. i still think it is worth getting it done to atleast help offset some off the tax. what does everyone else think.
Yes – it will probably still be worth it.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Most depreciation companies can/will do a phone assessment to help you determine whether or not it is worth getting a depreciation report down. Some also offer a fee refund if they cannot depreciate more than their fee.
As an aside being an older property doesn't by default mean there is no depreciation left.
Look for more recent renovations, new whitegoods, airconditioners, ovens, floor coverings, etc While there probably isn't much left in the building (aside from renovations) the plant and equipment may be worth depreciating.
PS Deppro (Depreciation Company) go far and wide.
Dear ledgend80,
Based on the information provided, your property will certainly offer some form of depreciation benefits at tax time.
Yes, the current rulings state that if the property was built before July 18 1985, then the original structure doesn't qualify for building write-off. However, by using a registered Quantity Surveyor, they'll be able to maximise the deductions on all plant & equipment (as it gets revalued upon settlement taking regardless of how old the property is), they'll also be able to estimate costs for any previous renovations carried out by past owners as well as include the work that you have completed on the home as well.
When choosing a quantity surveyor, there a few things to be careful of – they must be registered tax agents, at a minimum be an associate member of the AIQS, offer a guarantee regarding the at least double the fee in deductions found in the first full year of claim and also complete a full site inspection.
I hope this helps,
Hi Anthony
It's good to see you amongst the forum. I think we may have exchanged emails during the week.
You should stick around – it would be handy to have an expert in this field available on the forum.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
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