What is a Quantity surveyor?
Quantity surveyors estimate construction costs and can report on capital allowances and depreciation for property investors
Capital Claims Tax Depreciation are quantity surveyors and registered tax agents
A Quantity Surveyor, also known as a construction economist or cost manager, is one of a team of advisers to the construction industry. As advisers they estimate and monitor construction costs, from the feasibility stage of a project through to the completion of the construction period. – Australian Institute of Quantity Surveyors.
Essentially Quantity Surveyors calculate the amount of materials needed for a building project, and how much they will cost.
Because of these skills, Quantity Surveyors are also the profession recognised by the ATO as suitable for completing depreciation schedules for residential and commercial property investors.
A quantity surveyors report for depreciation is also called a depreciation schedule, or capital allowance and depreciation schedule.
Not all quantity surveyors are depreciation specialists, and only a specialist will know how to maximise your deductions.
To sell depreciation schedules, a quantity surveyor must also be a registered tax agent with the Tax Practitioners Board.
We are quantity surveyors, investment property depreciation specialists and registered tax agents.
How a quantity surveyor helps property investors to maximise the cash return on their investment property
Quantity surveyors who are depreciation specialists assess, calculate and report the tax deductions a property investor can claim annually for the depreciation of their investment property.
A depreciation schedule prepared by a quantity surveyor is key to ensuring you maximise the tax deductions available for your building works write off, as well as depreciation of all assets included in the property.
It is important to note that accountants are not recognised by the ATO as qualified to estimate construction costs or value assets for the purpose of claiming depreciation.
Selecting the right quantity surveyor
Ensure your Quantity Surveyor is registered
Your quantity surveyor must be a registered tax agent with the Tax Practitioners Board (TPB). The TPB is the national body responsible for the registration and regulation of tax agents ensuring compliance with the Tax Agents Services Act 2009 (TASA).
Your quantity surveyor should be a member of Australian Institute of Quantity Surveyors (AIQS) – An industry membership with the (AIQS) assists quantity surveyors to maintain compliance with industry regulations and Australian Standards.
Capital Claims Tax Depreciation are both registered with the Tax Practitioners Board and are affiliate members of the Australian Institute of Quantity Surveyors.
Engage a Quantity Surveyor that is a depreciation specialist
Not all quantity surveyors specialise in depreciation. Specialist quantity surveyors not only know how to cost construction and assets, but also know how to apply the relevant ATO legislation to enable maximum deductions and ensure the depreciation schedule is ATO compliant. This is why it is important that your quantity surveyor is also a registered tax agent.
Choose a Quantity Surveyor that makes the process easy for you
Arranging a depreciation schedule should be a simple and convenient process for everyone involved.
A budget or DIY process will take hours and won’t go close to ensuring maximum deductions and cash returns.
We pride ourselves on our customer service, and keeping the process as easy and efficient as possible, with minimal disruption to our clients and their tenants. Check out our testimonials and reviews online.
Quantity Surveyor Services Australia-wide
We are pleased to provide expert quantity surveying services Australia-wide.
If you’re investment property is in Sydney, Brisbane, Canberra, Melbourne, Adelaide, Perth, Darwin, Hobart, Gold Coast, Newcastle, Orange, Tamworth or surrounding regional areas, our team is ready to assist you with a professional depreciation schedule today.
How much depreciation could you be claiming on your investment property?
Find out with a free, personalised estimate from our team
