I was wondering if anyone can recommend a good Quantity Surveyor for apartments in South Melbourne to obtain a depreciation schedule – or does it not really matter who you use?
Cheers,
JenIMHO contact Depreciatior (though this time of year all QS will be flat out as people leave it to the last minute.
I believe they are not all the same….like any industry
REDWING
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All QS firms are different, whilst we essentially offer the same products, methodolgy and alike may vary between firms. If you would like further information about depreciation schedules, please feel free to contact me.
Regards,
Neale
Jen,
Neale is right. The product should essentially be the same. The rules are pretty clear, and we follow them.
When it comes to estimating construction costs, inspection by a Quantity Surveyor is Best Practice according to the AIQS (Australian Institute of Quantity Surveyors). The ATO also obviously prefer this, though it’s not their place to regulate an industry (much as I wish they would).
Now, Quantity Surveyors are 4 year trained professionals. Their hourly rate as a consequence is pretty high. If a Tax Depreciation Schedule is costing $400 and the building cost needs to be estimated for that job, there is a possibility that a QS won’t be going on site, despite what you are told on the phone.
And this year the ATO have told us they are going to be auditing building cost estimates.
Always remember, that if you commission, pay for, and use a Tax Depreciation Schedule you accept responsibility for it. You are the ATO’s client, not the QS.
I reckon saving a couple of hundred tax deductible dollars is false economy if it involves using someone who takes short cuts.
I’m sure Neale would agree. As would other reputable Tax Depreciation Schedule suppliers.
Scott
PS Of course, schedules on brand new units can often be obtained cheaply because there will invariably be a QS group on the project and they will know all the actual costs.Tax Depreciation Schedules
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http://www.depreciator.com.auI completely agree. It is important to be weiry of these low fees for depreciation schedules, as it will reflect the service and product you recieve. A site inspection by a surveyor, absolute must.
As Scott mentioned if is a new development then the QS firm may have already produced reports on other units within the same complex, if this is the case then the cost to prepared the depreciation schedules should be substantially cheaper.
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