http://www.excelproperty.com.au
330 for depreciation schedule, visited the property. Excellent, prompt and professional service!
If I am building an IP am I better to get a QS to do a full inspection or would it be better if I used an online service as I would have all the costs from the building contract?
Any1 used this before?
http://www.austtaxonline.com.au/contact-us/
quoted for $495, $104 cheaper than DEPPRO.
jacqui_03
You are still better off getting an experienced(in depreciation) QS to do your depreciation He could/should find more than ten times his cost
kind regards
GeorgeIs it really a case of you get what you pay for? Does an online form give the same result as a full inspection? You will never know unless you use both services from the same company. That is, does the on-line form utilise photos to check all 4 walls in every room or improvements in the back yard whereas a QS visiting the site will?
I would maintain, that an inspection of the site is invaluable as it would indicate condition and would always reveal more than a non-visual inspection relying wholly on opinion.
When you are paying a 'premium' for a physical inspection (or more correctly, getting a discount for someone not doing their job or cutting corners) are you really getting value for money or just a cheap job (and losing out on write-offs and depreciation)?
jacqui_03,
A good online service with support from the QS should produce the same result
kind regards
GeorgeJacqui, I'd agree. If you have full details of your costs (eg a rated bill of quantities & plans) it would be a doddle for a qs to provide your depreciation schedule.
Scott No Mates,
I, as a QS who specialises in depreciation, agree with you there, A lot of online services are bad value for money in the sense that you are only paying for computor time, not getting any technical support from their QS. Do some research, make sure you know what you are getting
kind regards
Georgejacqui_03 wrote:If I am building an IP am I better to get a QS to do a full inspection or would it be better if I used an online service as I would have all the costs from the building contract?DEFINITELY ensure a reputable QS inspects the property – this is an important way of protecting yourself if the ATO challenges any valuations of depreciable items: http://blog.rentwise.com.au/index.php/2010/05/18/depreciation-reports-please-explain/
heathers wrote:http://www.excelproperty.com.au 330 for depreciation schedule, visited the property. Excellent, prompt and professional service!Tax Depreciation Schedules from dfg$330
Building Handover Inspections from fgd$325
Combine both for $650
Based on the website, it mentions $330 for Tax Depreciation schedules only.
Inspections will be another $325.
Please correct me if i am wrong
Hi all
I have an unit ,which is very old. built in 1971.
So is it worth to get a depreciation schedule ?
I bought it for 220K. How much likely I can claim for tax depreciation?
Definitely, longdd. I have a 1971 built flat that I renovated about 10 years ago. Brings me $4K every year in depreciation that I only discovered after getting a QS report done after the renovation. That report’s well and truly paid for itself!
nitrodrops wrote:heathers wrote:http://www.excelproperty.com.au 330 for depreciation schedule, visited the property. Excellent, prompt and professional service!Tax Depreciation Schedules from dfg$330
Building Handover Inspections from fgd$325
Combine both for $650
Based on the website, it mentions $330 for Tax Depreciation schedules only.
Inspections will be another $325.
Please correct me if i am wrong
They are two separate services. You don’t need a handover inspection to get a depreciation schedule. The handover inspection ensures the builder has complied and all workmanship is of a high standard.
FYI I got both, and was amazed at how much he picked up that we didn’t notice..ie missing coats of paint, chips in walls etc.Hi Guys and Gals,
A good QS will pick up up plant and articles ie Hot water unit, Lights, Carpets, Blinds even on a property built in 1971. Then there is the method used called " Cost to the taxpayer" which increases the value of P&A . BY the way is anyone claiming Stamp Duty and Legal fees in their depreciation ?
kind regards
GeorgeThe focus is too often on the QS fees, when it should be on the results. A fee difference of $ 50- $ 100 is insignificant if the results vary by $ 2000-$5000
pa
Of course we all want results…
But honestly… if its an IP and you’ve renovated it yourself, perhaps even lived in it, like i had and mentioned in my original posting… what can they tell me that i can’t. In fact, isn’t it the opposite… i can list absolutley everything needed for the schedule when they are likely to overlook some things
heathers wrote:They are two separate services. You don't need a handover inspection to get a depreciation schedule. The handover inspection ensures the builder has complied and all workmanship is of a high standard. FYI I got both, and was amazed at how much he picked up that we didn't notice..ie missing coats of paint, chips in walls etc.thnx mate, rang and confirmed it is $330 for onsite inspection.
Just finished the onsite inspection, followed the QA around incase he missed out anything, but whatever he saw, he took it down, nothing much for me to highlight.
Ta
H Guys,
Let me say upfront that I am a QS who ha specialises in depreciation.
The bottom line is that you get what you pay for.
If you don't have referal from someone you trust, then ask for references not from clients but from accountants who see wide range of depreciation schedules from a wide range of QS's
SAde to say that in 13 years of business not one client has bothered to check, go figure!!!
kind regards
GeorgeInvestabit wrote:If you don't have referal from someone you trust, then ask for references not from clients but from accountants who see wide range of depreciation schedules from a wide range of QS'sOoo not necessarily, as some QSs pay accountants a commission for each referral…
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