What is a quantity surveyor?

Do I need to engage a Quantity Surveyor, why not an Accountant? After all, it is depreciation that is being assessed for on my rental property.

A quantity surveyor is a tertiary qualified professional that is degree qualified in the Science of Construction. They are Building Economists in that our specialty is independently identifying the cost of construction. The expertise applies to areas relating to tax, council approvals and even bank lending for construction finance. At Duo Tax Quantity Surveyors we strive to be class-leaders in tax depreciation. That is, Duo Tax are Registered (Quantity Surveying) Tax Agents to provide property investors with sound advice that will maximise their tax deduction. How? By assessing the depreciable assets on a rental property including the building and the fixtures and fittings that make up a rental property.

The difference is in the detail. That’s why when we assess something as simple as concrete, it’s more than meets the eye. A square metre of concrete is worth $100m², however, to arrive at this we need to break down each component that makes up a square metre of concrete:

  1. excavation of the area
  2. provision of sand underlay
  3. termite protection and lay builder’s film
  4. formwork to support concrete pour
  5. concretor to provide the appropriate finish

It is this level of detail that allows Duo Tax Quantity Surveyors to work in conjunction with your accountant to achieve the best possible outcome. It is important to not only look at how much an investor can claim, but also to strategise how to claim it as fast as possible for you. After all, cash-flow is vital in the earliest stages in any rental property.

Part of The Income Tax Assessment Act of 1997, the Tax Commissioner issued taxation ruling TR97/25 allows property investors to assess depreciation on a rental property however, they must engage an appropriately qualified person such as a Quantity Surveyor.

Do you have an investment property that you would like one of our expert quantity surveyors to view and assess? Call us today on 1300 185 498 and we guarantee our service will bring value or else our time and effort is free-of-charge.

By | 2018-04-17T15:55:38+00:00 April 17th, 2018|Advice|