Why You Should Consult a Quantity Surveyor
Many people are not aware that they can get a deduction from their taxable income through a property depreciation schedule. You can secure deductions from construction cost and plant and equipment allowance. Construction cost includes the costs pertaining to the property. Property and equipment allowance includes the removable assets discovered within the property. And, both construction cost and property and equipment allowance are subject to depreciation. They are also covered by the tax depreciation schedule for investment properties in Australia. You can find many leading tax depreciation surveyors in Australia, in particular at Deppro QLD.
Below are some of the reasons why you need to consult with a quantity surveyor in order to reap maximum benefits:
1) The Expertise of Quantity Surveyors:
Quantity surveyors have expertise in preparing an investment property depreciation schedule period. It is applicable for the property built after September 1987. Neither your real estate agent nor your accountant can assist you with this. However, you may ask for their advice. Quantity surveyors have the required information and experience to calculate the accurate value of your property and tally it with tax regulations.
2) Professional Guidance:
Another valuable service that quantity surveyors offer is that they will guide you with all the details of claiming depreciation from the tax office. They will help you find out that can you claim depreciation on a rental property and how much? Many end up missing the important chance as they filed for the property depreciation claim after the last date. The availability of a qualified quantity surveyor will ensure that you do not face such issues while filing a property depreciation claim.
3) Maximum Benefits of Tax Depreciation:
They will let you know how much of a deduction you will receive against your taxable income through the property depreciation schedule. The trustworthy and expert quantity surveyor will include all the deductible objects to gain maximum benefit as tax time arrives. The surveyors have expertise in finding out allowable depreciation on rental property.
4) Accurate Cash Projection:
Quantity surveyors help you avoid certain risks and hazards related to some calculations which provide rough estimates. They make correct cash projections which will allow you to plan your budget effectively and ahead of time. With accurate cash projections, you will not have to face any unpleasant surprises. You can stay away from the redundant financial obstacles such as overpaying for construction materials.
5) Reduce Expenses:
Quantity surveyors can easily handle all costs linked to civil engineering and building projects. They overlook both the site work and office work and their main objective is to reduce expenses and keep them under the budget. They achieve their objectives without making any compromise on the quality of the product and they adhere to all the safety regulations.
Conclusion:
Expert quantity surveyors take an active part in projects and work with clients or contractors from the very beginning to prepare detailed estimates of the project. Many times, they collect tender and contract documentation, carry out the required feasibility studies, and risk control processes. As soon as the building project begins, they track everything that may cause cost variations. Quantity surveyors are experts in exploring opportunities that will save money. So hire the best quantity surveyor tax depreciation today and maximize your benefits.
