Need a quantity surveyor on the Gold Coast to prepare a tax depreciation report on your investment property?
Our office is located at 6 Countryview St. KINGSHOLME, Gold Coast. Qld 4208
Hi,
I’m William Callaghan, qualified 2nd generation quantity surveyor, founder and owner of WRCQS.
Our family business has been Gold Coast based for almost 30-years and produced over 16,500 tax depreciation schedules and construction cost estimates for both commercial and residential investment properties.
Gold Coast Locations We Service
For all your quantity surveying needs, we service the entire Gold Coast. From the Logan River at the most northern point, to The Tweed River in the South.
In fact, we go well beyond the NSW-QLD border, and all the way to Newcastle. Including the usual coastal rental property hotspots like;
Cabarita, Kingscliff, Pottsville, Byron Bay, Ballina and Bangalow. Murwillumbah, Nambucca and Ocean Shores.
Why Choose a Local Quantity Surveyor?
It’s important to choose a local, Gold Coast based quantity surveyor for 3 reasons;
- 1. Local surveyors know the local construction conditions better than anyone else. Guaranteeing you of the most accurate costings possible
- 2. Local Surveyors have closer ties with the local real estate industry. Meaning you’ll get better insight into what the property market is doing
- 3. Local surveyors are on hand to better help you at a moments notice. So you won’t have to wait weeks, or even months to get a certified inspector onto your site
Services Available for the Gold Coast
On the Gold Coast we offer 3-main quantity surveying services;
- Tax Depreciation Schedules (Commercial and Residential)
- Construction Costing Services (including Progress Payment reports, Estimating, Feasibility reports and cost-to-complete reports)
- Sinking Fund Forecast and Insurance Replacement Valuations (mainly for Body Corporate entities)
Sinking Fund Forecasts & Insurance Replacement Valuations
Here at WRC quantity Surveying, we provide bodies corporate across the Gold Coast region with accurate and reliable reports for both building replacement costs and maintenance cost forecasts.
You can find out more about our services on our page dedicated to sinking funds and insurance valuations by clicking here
Construction Costing Services
Estimating the construction costs of a new build is the bread-and-butter of a quantity surveyor firm. We even get a mention in the bible as one of the oldest professions around.
To read all about our pricing structures and services offered, please click on this link to our dedicated page to our Construction costing services.
Tax Depreciation Schedules
Tax depreciation on the Gold Coast is thriving. With over 32% of the population currently renting, there’s always opportunity for investors to do well in the property market.
To find out if you should get a depreciation report (schedule) for your investment property, check out our page dedicated to tax depreciation schedules by clicking here
But in the meantime…
Here’s some recent Gold Coast investment properties we’ve inspected for tax depreciation purposes…
You may have similar success
Brand New House in Hope Island
$21,746 in Tax Deductions in just 376-days
1980’s Built Highrise Apartment in Surfers Paradise
$2,550 in Tax Deductions in first year alone
2010 built former Principal Place of Residence in Upper Coomera
$15,650 in Tax Deductions in just 2-years
1995 built Villa in Molendinar
$2,300 in Tax Deductions in just 201 days
2018 built house in Pimpama
$9,138 in Tax Deductions in first year
Brand New house in Cumbalum (NSW)
$26,379 in Tax Deductions in 686 days
2007 built House in Ormeau
$6,411 in Tax Deductions in 365 days
1995 built acerage House in Helensvale Extensively Renovated
$36,000 in Tax Deductions in 365 days
1989 built house in Oxenford
$7,989 in Tax Deductions in 365 days
2003 built unit in Surfers Paradise lightly renovated
$4,872 in Tax Deductions in 365 days
What Can You Claim As Tax Deductions In Your Investment Property:
Firstly:
Do you have a commercial property or a residential property?
If you’ve got a commercial investment property click here to read all the specific info relevant to you.
But if you’ve got a residential property – including short term accommodation – here’s what you can claim:
Capital Works items (Division 43):
Any structural item in and on your property is claimable at 2.5% p.a. of its original construction cost.
One caveat:
The construction has to be after September 1987.
Any original works built prior is not claimable as a deduction.
But… renovations and improvements made after September 1987 are claimable. And it doesn’t
matter if they are renovations done by previous owners or yourself.
Also: external capital works such as fencing, driveways, carports, inground swimming pools, are only claimable if built after February 1992.
So, if you’ve got an older house or unit on the Gold Coast the tax depreciation options may be sounding not so great.
And sometimes that’s true. Sometimes older properties on the Gold Coast simply aren’t worthwhile getting a quantity surveyor’s report.
But the best thing to do is to remove all doubt and have me eyeball your property online (for free) and let you know if it’s worthwhile doing or not.
This doesn’t cost you a cent and will also give you an anticipated minimum yearly tax deductible amount (based on the online info I found).
Simply get in touch here and I’ll do my thing
Plant and Equipment items (Division 40):
This is all the ‘easily removable’ items in and on your property. There’s a lot of ‘grey area’ here and the ATO often changes exactly what is and isn’t ‘easily removable’.
Example: a garden shed bolted to a slab is considered fixed and not easily removed and therefore a capital works item claimed at just 2.5%pa. Even though you or I could easily remove it all on our own in an afternoon.
While an oven which requires a licenced electrician to disconnect it and ‘make safe’ is considered ‘easily removed’ and claimable at 16.66% pa as a deduction… if it’s brand new. Second hand, it’s not claimable.
You can even claim your report as a tax deduction:just like your accountant’s fee!
A brief list of what is considered Plant & Equipment:
- Appliances
- Hot Water Units
- Light shades (not fittings)
- Blinds, Curtains
- Carpet
- Air Conditioners
- Pool pumps… and more
How to get a tax depreciation report:
1. Get a no-obligation free assessment of your property to see if it’s worth it
2. I’ll send you a quote + sample report + a guaranteed minimum per annum deduction amount
3. If you want to go-ahead we go to step 4
4. One of my Quantity Surveyors will physically inspect your property
5. I prepare the report and send a copy to you and your accountant
get your free quote here.
I also give you an eye-ball estimate of potential tax deduction entitlements awaiting you in your investment property.
Plus… a rental valuation assessment too.
Now… I don’t prepare the rental assessment myself. I rely on RpData’s significant data mining software to produce your report and package into a nice document for you.
And to get all that simply get in touch here⤵️
What to do next…
Not sure if you need a tax depreciation report?
…the next thing to do is ask me
It’s free!
I’ll use my RpData access to research your property and let you know if there’s enough claimable deductibles.
