A Tax Depreciation Schedule is a fancy name for a document that tells your accountant how much depreciation to claim on your property.  And depreciation is just compensation for wear and tear.

Buildings wear out. So do stoves, carpet etc – especially with tenants. So you get to depreciate them, or write them down, a bit every year. Surprisingly, that bit can add up to thousands of dollars every year.  And the cost of getting a Depreciation Schedule is 100% tax deductible.  ‘Can’t my accountant just do it?’ That’s what many people ask. The problem is that accountants don’t have the skills to estimate what a property might have cost to build, or renovate. The people best qualified to, are quantity surveyors.

For this reason, only a quantity surveyor should inspect your property, to get you the best results. Accountants used to have a stab at estimating construction costs, but the ATO put a stop to that. So hundreds of accountants send their clients to us.  They send their clients to us because they know we keep on top of the rule changes, and because they know that when they get one of our Schedules it will have exactly what they need.