An allowance for wear and tear for income producing properties and its assets such as plant and equipment which values are declined and depreciated over the time. Tax depreciation is also commonly known as Capital Allowances in commercial property industry.
TDQS Quantity Surveyors are one of the few professionals who recogised by the Australia Tax Office (ATO) to estimate construction and building costs for depreciation purpose under tax ruling 97/25.
Our report typically issued within 3-7 days upon site visit
40 YEARS REPORT
40 years summary deduction for both Division 40 Plant & Equipment and Division 43 Capital Works Deductions
50/50 SPLIT OWNERSHIP
With no extra charges we provide report with split of ownership based on percentage which gives higher depreciation
PRIME COST &
Our report outlined the differences in Claims for both Prime Cost and Diminishing Method
PRO-RATA FIRST YEAR
First year deduction based on number of days of ownership from settlement date