Just bought your latest investment property?
What you need to know to keep going onward & upward
By now you know the importance of having a tax depreciation report, so I won’t rehash that here. Suffice to say that extra cashflow early on can be vital.
But there are some things you need to know.
Changes to tax depreciation legislation
The May 9, 2017 Federal Budget ushered in big changes to tax depreciation reporting.
Getting a schedule is still very much worthwhile, but the ATO sure made it hard for Quantity Surveyors and Accountants to get your property into the right category.
Because of the extra complexity in the law, now more than ever, you need a highly-qualified QS to carry out the site inspection. Not a tick-sheet guy.
Find out if & how the ATO legislation changes affect you
The legislation has become really confusing. What category your property falls in can be impossible to know without expert help. Even similar properties can be different, so you really have to come at it on a case-by-case basis.
However, there are still some easy ones. Brand new properties and commercial properties remain simple because the ATO changes have not affected them in any way, shape or form.
If your property doesn’t fall into one of these groups, just get in touch lower down on this page. I’ll help you slot your property into the ATO legislation.
Who uses WRCQS?
Around 65–75% of all our work is for:
- Past clients who keep coming back to us when they need reports for other properties;
- Client referrals, where a customer has told their friends that they should get Tax Depreciation Reports from us;
- Accountant referrals, where the professionals who actually have to use our reports tell their own clients to come to us to get one.
In other words, you have good assurance of quality service from us.
WRC is now our first call for a Tax Depreciation schedule on a new property. Will is fast and efficient and always able to fit us in. I have the report back promptly and it is always well presented and easy to understand. I recommend him without hesitation. —Nathan V
What do we do for you?
As a 2nd generation Quantity Surveyor, I cut my teeth working directly for my father, Ron Callaghan.
Dad learnt Quantity Surveying the old school way. Pen and paper (maybe even an abacus), and a typing pool who’d type up reports on his behalf.
His focus was 100% on being accurate and accountable. That’s rubbed off on me and the reports I produce.
I’m not interested in becoming the biggest company. I prefer to focus on quality, not quantity.
I limit my service to 10-12 reports per week. Besides, dad and I have other QS work to do as well:
- Costing Reports
- Estimating
- Progress Payments
- Insurance Replacement Valuations
- Sinking fund Forecasts & so on
For more on what sets us apart, take a look at our Why Us page.
Is it worth it?
You will almost certainly save money with a tax depreciation report. In fact, for every $1 spent on our report, I guarantee you will get at least $18 back from the ATO (spread over 7 years). But to find out for sure, simply get a quote—it’s easy & free.
How to get a report
Getting a report is a straightforward process. Dad has been doing this since 1993, and I joined in back in 2008, so the process is well streamlined. All we do is ask you a few questions and we’re ready to go!
- Get a no-obligation free assessment of your property to see if it’s worth it.
- I’ll send you a quote + sample report + a guaranteed minimum per annum deduction amount.
- You supply some basic information about the property.
- One of our Quantity Surveyors will inspect your property.
- We prepare the report and send a copy to you and your accountant.
