Tax Benefit of a Quantity Surveyor Report
If a property is being used for investment purposes, the ATO allows the investor to claim the depreciation of the building and plant & equipment by way of a tax deduction.
The deductable amount depends on the age and value of the building, but it varies between 2.5% to 4% of the capital works value of the building each year.
A depreciation schedule is a report undertaken by a quantity surveyor company.
It generally should be undertaken when the investor buys the property but will be beneficial to most newer properties.
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