Duo Tax Quantity Surveyors Darwin
Duo Tax Quantity Surveyors in Darwin, NT provide accurate tax depreciation reports for investors who want to reduce their tax burden and maximise their property investment.
Our mission is to help minimise your tax burden by providing the most affordable, convenient and aggressive tax depreciation report service so that you can maximise the return on your property investment.
Our team of quantity surveyors, registered tax agents, construction industry cost consultants and property valuers in Darwin will provide you with accurate quotes for residential and commercial properties based on your needs and budgeting requirements, so contact us today!
Are you a property investor looking to maximise your tax deductions?
Most first-time investors aren’t aware that property depreciation is actually the second-largest tax deduction they can claim on their investment property after interest on loans.
Our goal at Duo Tax is to help you maximise your depreciation deductions by providing accurate and reliable tax depreciation schedules that can help you save on taxes for up to 40 years. The team of quantity surveyors and expert tax agents provide professional, practical and affordable advice on how to get the most out of your investment by making sure you’re claiming all of your available deductions.
We have over 30 years combined experience providing a diverse range of quantity surveying services such as tax depreciation reports, construction cost planning and property valuations. We work with our clients to understand what is required and then provide an accurate report on their property so that they can claim those valuable tax deductions.
Whether you’re located in Darwin City, Larrakeyah, Fannie Bay, Hidden Valley, Coconut Grove, Nightcliff, Milner Rapid Creek and surrounding suburbs in the Northern Territory, our Quantity Surveyors in Darwin have your properties covered.
What is Property Tax Depreciation?
As a building gets older, its structure and the assets within the building are subject to general wear and tear. In other words, each year, the value decreases and thus, depreciates. When it comes to your investment property, these items are classified as either Plant and Equipment assets or Capital Works assets.
The ATO allows property investors, who generate income from their investment property, to claim the property depreciation as a tax deduction.
Division 43 Deductions refer to the depreciation of the structure of the building. The structure of a residential and commercial building generally has an effective life of 40 years. In other words, you can claim the decrease in its value for a deduction for 40 years, provided that you’re generating an income from the property.
You can claim a capital works deduction on construction costs too.
The term “plant and equipment” refers to the fixtures and fittings found within the building and are generally easily detachable from the property.
The rate at which plant and equipment fixtures depreciate depends on the ATO’s Asset Effective Life Schedule, which gives guidance on how long an asset is effective before it’s worn out. The ATO recognises more than 6,000 different assets that investors can claim tax deductions on.
For example, an air conditioning unit has an effective life of 20 years.
Claiming tax depreciation on investment properties involves identifying its value, construction cost estimates, and fittings and fixtures. A tax depreciation schedule is a comprehensive report detailing how much depreciation you can claim on your investment property to pay less tax.
The tax depreciation schedule document is typically prepared by a professional quantity surveyor, who will inspect your investment property and assign a value to each asset.
Why Choose Duo Tax Darwin for your Property?
We offer expertise in by assessing tax depreciation deductions for investment properties that are new, old, renovated, completely refurbished or for commercial fit-outs.
We have experience in depreciation schedules for all building types, including construction, residential and commercial projects.
All of our reports are ATO compliant, and we’re an affiliate member of the Australian Institute of Quantity Surveyors (AIQS) – the nationally recognised professional body for Melbourne quantity surveying.
Our free online rental property depreciation calculator will give you a rough estimate of your project and its cost, potential savings and cash return.
Qualified Quantity Surveyors
Our reports provide up to 40 years of depreciation where applicable and we’ll even retrospectively help you claim on previous years you missed out on.
We’re Australia’s highest-rated Quantity Surveyors. Our Quantity Surveyors have served over 50,000 happy property investors.
With over 50 combined years of experience and a nationwide presence, our Duo Tax process focuses on the most aggressive form of tax depreciation.
We offer immediate and accurate over the phone estimates and have an average turnaround time of 5 business days.
Our Reports
- Simple, easy-to-read and results focused
- ATO Compliant and the choice for thousands of accountants and advisors Australia-wide
- Complete 40-year diminishing and prime-cost depreciation schedules where applicable
- Includes capital loss schedule to reduce your capital gains tax
