Updated: August 2023

Hi, I’m William Callaghan. Second generation quantity surveyor and founder of WRC Quantity Surveying.

Our family business has been based in South East Queensland for almost 30-years and on the Sunshine Coast for the past 10-years.

Over 11,500 tax depreciation schedules, Construction Cost Estimates, Sinking Fund Forecast and Insurance Replacement Valuations have been prepared for our Sunshine Coast residents and clients.

Sunshine Coast areas we service

Our team of Quantity Surveyors operate from as far south as Caboolture and Bribie Island, as far west as Kilcoy, Kingaroy (where my grandparents are from) and as far north as Gympie and Noosa.

We actually go well beyond the Sunshine Coast region and all through central Queensland and south east Queensland.

How much is a quantity surveyor?

Quantity surveying services vary in price depending on the document you require.
Estimating services are often based on a square metre rate for the building design.
Sinking fund forecasts and Insurance replacement valuations are typically based on the number of lots within a building complex. And tax depreciation schedules are usually based on a job by job quotation.

Quantity Surveying Services We Provide on the Sunshine Coast

WRCQS is a traditional quantity surveying firm, providing the full gamut of QS services including, but not limited to;

• Estimating
• Progress Payment Reporting
• Sinking Fund Forecasts
• Insurance Replacement Valuation Reports
• CGT Property market Valuations
• Tax Depreciation Schedules

Estimating & Progress Payment Reporting

Estimating the construction costs of a new build is the bread-and-butter of any reputable 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.

Sinking Fund Forecasts & Insurance Replacement Valuations

Here at WRC quantity Surveying, we provide bodies corporate across the Sunshine 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

CGT property market valuations

When you turn your Principal place of residence into a rental property, the ATO will need to know what it’s market value is at that date. As a qualified and experienced quantity surveyor, I am accepted by the ATO to prepare these valuations on your behalf.

Tax Depreciation Schedules

Firstly, we are Australian Taxation Office (ATO) approved and Tax Practitioners Board (TPB) regirstered Quantity Surveyors. We are also registered quantity surveyors with the Australian Institute of Quantity Surveyors(AIQS). Esssential requirments for anyone to be in the business of preparing tax depreciation schedules.

Tax depreciation on the Sunshine Coast is booming. That’s because the suburbs like CALOUNDRA, MAROOCHYDORE and NOOSAVILLE have seen huge growth in the rental market.

To find out if you should get a depreciation report for your investment property, check out our page dedicated to tax depreciation reports by clicking here

But in the meantime…

Here’s some results from Sunshine Coast tax depreciation reports we’ve done…

You may have similar success

Why Get A Tax Depreciation Schedule:

Any good accountant will tell you there’s only one reason to get a tax depreciation report.

To pay less tax

Without a tax depreciation schedule you can of course still claim some tax deductions.
Repairs and maintenance items as they pop up.
Or, the quarterly Body Corp levies – if you’re in a Community Title Scheme.

And you can still claim your overheads like: rates, land tax and property management fees.

But you can’t claim any deductions for the money you spent buying the original building assets or the renovations done over the years.

To do that – the ATO says you must engage the services of a qualified Quantity Surveyor to prepare an ATO acceptable tax depreciation report.

What Can You Claim As Tax Deductions In Your Investment Property:

Firstly:

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.

Depreciation for 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.

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:

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⤵️

Name *

First

Last

Phone *

Mobile Phone Only Please - so I can send you quick updates or ask an easy question about your property

Email *

so i can send your quote to you

Property Address *

...so I can provide a guaranteed minimum yearly deduction amount

Comment or Message *

Got some important notes about your property I should know so-as-to give you the best price & most accurate estimate as possible

Send it >>

Still have some questions?

…Maybe these FAQS will help

QUESTION: How often do I need to order a tax depreciation schedule?

Once and once only

You only need to purchase your depreciation report one time. (and it’s fully tax deductible – just like your accountant’s fee). If and when you make improvements to the property they often fall under repairs and maintenance items and are claimable at 100% tax write-off.

But more substantial renovations can be relatively easily added into your report at a future date. Often at no cost to you at all.

QUESTION: Where are you located on the Sunshine Coast?

We operate from our home office in Mooloolaba and have been doing so since 2013.

QUESTION: I own an 90’s built house that was renovated by the previous owners. Can I claim any depreciation even though I didn’t pay for the renovations?

Assuming the renovations were completed after September 1987 – then yes – you sure can.
If your house was built prior to Sept’ ‘87 you can’t claim deductions for the original construction costs – but you can claim for the renovations.

I’ve done enough tax depreciation schedules on the Sunshine Coast to know virtually every-single 80’s built (and older) house has substantial renovations.
Just look at what’s happened to some of the older 60’s, 70’s and 80’s houses of Mooloolaba and Coolum Beach. . Very trendy locale now. And they’ve thrown tens… even hundreds of thousands of dollars at those houses to bring them up to Instagram status.

And that’s happening all over the coast. Little old backwater – Peregian Beach – where my Grandmother bought a few fibro houses back in the 70’s is now multi-million dollar investment property territory.

Note:

A $200,000 renovation means $5,000/yr in tax deductions for you.

QUESTION: I’ve got a small unit in a highrise about 15-years old on the Sunshine Coast. Is it worthwhile doing a Tax depreciation report?

Yes.

In fact, apartments are ideal for tax depreciation. That’s because the cost per square metre to build them is often 2 even 3 times more than a normal house.

That means bigger tax deductions for you.

QUESTION: I purchased a fully furnished unit within a holiday resort complex. We use the unit ourselves for family holidays about 2-weeks of the year. What can I claim as tax deductions?

This is when a Sunshine Coast quantity surveyor really shines.

The Sunshine Coast is full of privately owned resort complex units. I’ve personally inspected hundreds of them for tax depreciation purposes.

Here’s what you can claim:

• The original construction cost of your unit (if built after September 1987)
• Your share of the common areas including, lobbies, lift shafts, games rooms, gyms & saunas, basements, roof top areas and more
• Your share of common external areas (if built after February 1992)
• Any renovations done to your unit
• Your share or renovations done to common areas

But you can’t claim the furniture and fixtures as deductions – unless you purchase it brand new for the unit. And it has to be brand new. It can’t be second hand off Gumtree.

QUESTION: I live near the uni so I rent out a bedroom in my principal place of residence to a uni student. Can I claim any tax deductions for the room they rent?

Lots of Sunshine Coast residents rent out a bedroom to two. Either to uni students or air BnB style short term accommodation.
You can claim tax depreciation for the portion of the property they use.

For example:

You have a 3 bed 2 bath house with 2 living areas and a double garage.
You lease out the bedroom with exclusive access to a bathroom and a living room. Plus a spot in the garage.
You can therefore claim depreciation on those rooms at full value.
Plus you can claim a portion of the depreciation in shared areas – like the kitchen and swimming pool.

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.

…simply fill in this form below and I’ll personally be in touch⤵️

Name *

First

Last

Phone *

Mobile Phone Only Please - so I can send you quick updates or ask an easy question about your property

Email *

so i can send your quote to you

Property Address *

...so I can provide a guaranteed minimum yearly deduction amount

Comment or Message *

Got some important notes about your property I should know so-as-to give you the best price & most accurate estimate as possible

Send it >>

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Why Choose Us?

Our Location on the Sunshine Coast

We are located at 6 Coolamon Court MOOLOOLABA