Duo Tax Quantity Surveyors provides both methods of depreciation in our tax depreciation schedules (where applicable). These are: Diminishing Value Prime Cost These methods use different calculations to determine how quickly the items in the property are depreciating. You are free to use either method but you are unable to switch between the two
Quantity Surveyors are considered economists of the building sector. As accountants are unable to determine the cost of construction, it is then left up to the quantity surveyor to provide these estimates of cost. Naturally then, they are in the best position and are trusted to provide reports. These reports are accepted by Quantity
Fortunately not, our tax depreciation schedules will last the full 40 years of depreciation (where applicable). So, you only need to purchase one for each investment property you own. We make sure to capture all the depreciation available to you. If you have lost your schedule, email us and we can send you another copy.
Value A single schedule provides 40 years of claim or the maximum entitled years. You're guaranteed at least double our fee in depreciation in the first full financial year. We'll even retrospectively help you claim on previous years you missed out on. Experience We're Australia's most reviewed
The Federal Government legislated new laws for properties purchased after the 9th of May 2017 that ultimately affect depreciation claiming for second-hand plant & equipment (division 40).* Brand new properties rented immediately are not affected. The plant & equipment in a property must now be brand new and never used before (and the property rented
The capital works (division 43) renovations completed by previous owners are claimable if they were completed after 27th of February 1992. As for plant & equipment (division 40), these items are only claimable if you purchased the property before the 9th of May 2017. If you purchased after this date, they are considered second-hand and