What Are Quantity Surveyors (QS)?
A Quantity Surveyor is a construction professional that specialising in estimating construction costs.
A QS’s services can include cost planning for future construction projects, monitoring/controlling costs throughout a build, or preparing tax depreciation schedules for property investors.
Quantity Surveyors and Tax Depreciation
At Washington Brown, we specialise in maximising tax deductions for property investors, through the preparation of tax depreciation schedules.
These depreciation reports enable an investor to claim the wear and tear of their investment property against their taxable income.
A QS will estimate the original construction cost of the property you have purchased, along with any renovations, and calculate a yearly depreciation claim for your tax return.
See an example Depreciation Report here.
Do I Need a QS?
When the ATO released Tax Ruling 97/25, it recognised QSs as the appropriate professionals to prepare depreciation schedules.
Preparing your own depreciation schedule, or having your accountant estimate construction costs, can lead to lower claims or even ATO penalties.
Need a QS in Your City?
Here are some of the areas we service:
