Choosing the right Quantity Surveyor: 7 vital steps

We are often asked: “Why should I choose Washington Brown for my tax depreciation report?”

Due to the recent property boom, many Quantity Surveyors have sprung into action and suddenly become ‘Tax Depreciation Experts’.

Most of these firms, in our opinion, do not have the necessary support structure or historical data to calculate the best deductions for your property.

We are constantly reviewing other firms’ work and re-doing their reports. So the client ends up paying double.

You have paid a lot of money for your investment property – make sure you legally squeeze out as many deductions as you can.

We recommend the following steps be taken – as a minimum - before deciding which firm to use:

Step 1

Make sure the firm you choose is a member of the Australian Institute of Quantity Surveyors (AIQS).

To check, simply click on the link below. http://www.aiqs.com.au/Find_a_Member/index.htm

You can also ensure the company directors are qualified members as well. The Directors of Washington Brown are Tyron Hyde & Antony Brown: (both are AIQS associates).

Step 2

Make sure the firm you choose has been in business for a reasonable amount of time. What happens if you get audited and the company has gone broke? Who will defend your report to the ATO? (We recommend they be in business for at least 7 years).

To check, simply click on the link below. http://www.search.asic.gov.au/gns001.html

Washington Brown has been in operation since 1978.

Step 3

Make sure the firm you choose offers a money back guarantee.

Washington Brown guarantees to save you at least twice your fee in the first 12 months or the report is yours for free!!

Step 4

Make sure the firm you choose is on the panel of lending institutions. The banks ensure their panel members have gone through rigorous checks. They also make sure the necessary insurances are in place – especially professional indemnity.

Washington Brown is on the panel of St George, Suncorp Metway, ANZ and the Commonwealth Bank to name a few.

Step 5

Make sure the company you choose is inspecting your investment property. It baffles us how some companies recommend you – the purchaser – inspect the property yourself. More importantly it could cost you thousands of dollars in lost deductions. Do you know what to look for? Do you know what part of the building to measure or where from? Do you know how to identify renovations?

Washington Brown guarantees to inspect all properties.

Step 6

If your property is in a regional area, find out how long before the inspection takes place. Most companies make you wait three months before they have someone ‘in the area’.

Washington Brown now has more than 1500 trained inspectors all over Australia, from Mt Isa to Kalgoorlie…we are able to carry out inspections within two weeks.

AND FINALLY

Step 7

Make sure you’re in good company by checking the firm’s client base. That way if you are audited by the ATO, it won’t be the first time they’ve seen that company’s name.

Washington Brown prepares reports for companies such as Meriton Apartments, Stockland, Walker Corporation & Finbar International to name a few.