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As a property investor, you're always looking for ways to improve your cash flow and maximise your return on investment. One of the most significant, yet often overlooked, deductions available is property depreciation.
Depreciation is the natural wear and tear of a building and its assets over time. The Australian Taxation Office (ATO) allows property owners to claim this depreciation as a tax deduction. This non-cash deduction can significantly reduce your taxable income, putting more money back in your pocket.
A professionally prepared tax depreciation schedule is a comprehensive report that outlines all the available deductions for your specific property. This includes both Division 43 (Capital Works) for the building's structure and Division 40 (Plant and Equipment) for fixtures and fittings like appliances, carpets, and air conditioners.
By engaging a qualified Quantity Surveyor, you can ensure your depreciation report is ATO-compliant and maximises all legitimate claims. This can unlock thousands of dollars in deductions and is an essential tool for any serious property investor. When engaging a Quantity Surveyor, it's crucial to select one with the experience to deliver the most comprehensive schedule, giving you the largest possible deduction at the most competitive price.
We have collated a comprehensive Australian depreciation reports providers summary.
Disclaimer: This information is a general summary. Cost estimates are subject to change and may vary based on the specific property and location. It is recommended to obtain a specific, up-to-date quote from the provider before proceeding. We do not receive any commissions from the providers, however, you may receive a discount being our client, please mention Lavenex Accountants as your accountant when completing the quote.
BMT Tax Depreciation
Website: https://www.bmtqs.com.au
Service Areas: Australia-wide, with inspectors available in every state and territory.
Possible Cost Estimate: Fees require a custom quote. They offer a guarantee to find at least double their fee in deductions in the first full financial year or the report is free.
Duo Tax Quantity Surveyors
Website: https://www.duotax.com.au
Service Areas: Australia-wide, with offices in major cities.
Possible Cost Estimate: Prices generally start from around $595 (including GST) for a residential property, with a standard price closer to $700. They offer a "no deductions, no fee" policy.
Washington Brown
Website: https://www.washingtonbrown.com.au
Service Areas: Australia-wide.
Possible Cost Estimate: Fees are not publicly advertised and require a quote. They offer a "No Benefit? No Fee!" policy.
Tax Depreciation Australia
Website: https://www.tdaqs.com.au
Service Areas: Australia-wide, with inspectors available in every state and territory.
Complete reports on residential properties start at $450+GST with commercial properties starting at $600+GST.
MCG Quantity Surveyors
Website: https://www.mcgqs.com.au
Service Areas: Australia-wide.
Possible Cost Estimate: Fees are not publicly listed but are described as "competitive." They offer a "double our fee back in deductions" guarantee.
Capital Claims Tax Depreciation
Website: https://www.capitalclaims.com.au
Service Areas: Australia-wide, including city, regional, and country areas.
Possible Cost Estimate: Fees typically range from $440 to $770 (GST inclusive) for residential properties.
Corpred Enterprises
Website: https://www.corpred.com.au
Service Areas: Australia-wide, with inspectors in most locations.
Possible Cost Estimate: Reports start from $438 + GST. They also offer a price-match guarantee.
DEPPRO
Website: https://www.deppro.com.au
Service Areas: Australia-wide, with a Melbourne office servicing all of Victoria and regional areas.
Possible Cost Estimate: Fees start at less than $600.
SJB Quantity Surveyors
Website: https://www.sjbqsaustralia.com.au
Service Areas: Gold Coast, Brisbane, Sydney, Melbourne, Adelaide, Newcastle, Sunshine Coast, Toowoomba, and Northern NSW.
Possible Cost Estimate: Schedules from $350 + GST in some areas.
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