Duo Tax Quantity Surveyor Townsville
Townsville’s best quantity surveyors provide accurate 40-year tax depreciation schedules for property investors who want to reduce their tax burden on their residential or commercial properties.
Get a free estimate on our quantity surveying services by calling us or filling out the online form. Our team of quantity surveyors and registered tax agents in Townsville 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?
We’re here to help. At Duo Tax, we specialise in helping investors understand the ins and outs of depreciation deductions on investment properties. Our team of expert quantity surveyors and tax agents are avid investors themselves, so know that every cent counts.
With over 30 combined years of experience and a nationwide presence, we focus on the most aggressive form of tax depreciation, which means more cash in your pocket.
Our qualified quantity surveyor team will provide a detailed report on how much your property has depreciated and will continue to depreciate. With our knowledge, experience, and expertise in the field, we’ll be able to give you an accurate assessment of the depreciation deductions you can claim on your annual tax return.
We are committed to providing you with accurate, reliable and timely information that will help you pocket more cash from your investment property.
Serving all Townsville suburbs and surrounds, our local quantity surveyors can help you claim tax depreciation deductions in: Hermit Park, Cranbrook, Annandale, Mysterton, Mount Louisa, Townsville city and surrounding suburbs.
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 refers to the deductions you can claim in relation to the property’s building structure. The effective life of the building structure of any residential or commercial property is 40 years. This means that you can claim deductions for depreciation over a 40 year period, provided that you’re generating an income from the property.
This also applies to construction costs for any improvements or expansion on the building.
The term “plant and equipment” refers to the fixtures and fittings that are 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 many years 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, a carpet, which is subject to a fair amount of wear and tear, has an effective life of eight years.
Claiming tax depreciation on investment properties involves identifying its value, estimated construction costs, and fittings and fixtures. A tax depreciation report 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 Townsville for your Property?
We offer expertise in QLD 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
