Property Depreciation

on August 31, 2015 General with 0 comments

Quantity surveyors produce a detailed depreciation schedule to help investors
boost their cash return each financial year.

Depreciation is one of the most under claimed deductions that property investors fail to take advantage of.

A specialist quantity surveyor will prepare a depreciation schedule that outlines all of
the deductions the owner of a property can claim for both structural items and plant
and equipment assets. An owner and their accountant will then use this schedule to
implement the correct deductions when they go to lodge their income tax return.

It is crucial that property owners choose a depreciation schedule from a quantity surveyor
who offers a site inspection. If they do not inspect the property, it is possible that many
of the plant and equipment assets within the property will be neglected in the final report.

A quantity surveyor uses both the prime cost and diminishing value methods of
depreciation to calculate depreciation deductions. An investor should confer with
their accountant about what method is most appropriate for their circumstances.

property depreciation