24/7 Residential and Commercial Tax Depreciation
We are registered agent in Tax Practitioners Board.
Our fee is 100% tax deductible
1. What is property depreciation, how much can I claim?
Current tax relief is available for you claim wear and tear on a property purchased for income producing purposes, you can also claim the depreciation of your investment property against your taxable income.
You may be able to get tax deduction in the range from $5,000 to $ 20,000 per year for residential properties, even more you can get for commercial properties.
2. My property is more than 40 year old, Can I claim depreciation?
The answer is yes. No building exists without improvement or renovation. Therefore you can claim depreciation.
All it takes is a COSTIN qualified quantity surveyor to inspect your property and prepare a report for your accountant. COSTIN Team of Quantity Surveyors and Tax depreciation specialists unearth the hidden cash flow of your investment property by identifying all your property tax depreciation deductions.
3. Can accountant prepare this report?
Tax Ruling 97/25 issue by the Australian Taxation Office (ATO) has identified Quantity Surveyors as properly qualified to make the appropriate estimate of the construction costs, where those costs are unknown.
“Quantity surveyors are specialists in the accurate measurement of construction costs with a view to maximizing a client’s financial position in relation to their property assets. COSTIN Quantity Surveyors are fully qualified quantity surveyors brings the appropriate education, experience and training to provide reliable figures upon which to base a property tax depreciation schedule.
4. Do you carry out inspection prior to prepare report?
Based on above, Quantity Surveyor must visit property to do property estimate. COSTIN Quantity Surveyors do property visit. Normally our policy is no on line spread sheet or estimate
5. My property is renovated. Can I claim depreciation?
Yes you can. Our Quantity Surveyors and Tax depreciation specialists take in to account all improvement in tax depreciation schedule. If renovation is unknown, our Quantity Surveyors are qualified to make that estimation.
6. How much you charge for a depreciation schedule cost?
The cost of preparing a tax depreciation schedule varies according to the type of property such as residential, commercial, etc. our price is very competitive. No upfront payment and minimum depreciation amount is 4 times than our fee. We beat any competitor’s written quotation. We offer discount price for bulk properties
7. How long will it take to complete my schedule?
We deliver report, same day or next day after inspection. We do Saturday and Sunday inspection. We are available 24 hrs a day/7 days a week and Australia wide service