Common Questions

Why is there such a difference in prices for Tax Depreciation Reports?

Maybe the question should be how can ACP provide such a quality report at such discounted prices? In fact there are a number of reasons for the affordability of our reports.

  1. Our business model supports the ‘fair go’ - we’d rather concentrate on helping you down the road to financial freedom than overcharge you. At ACP we consider that this is good business.
  1. At ACP Quantity Surveyors we’re also sensible in how we advertise our service and structure our business - as a result, unlike some of our competitors, we don’t charge you an extra $200 per report to pay off high overheads and marketing costs and then, claim that we have a better report simply because it costs you more!
  1. We don’t need to pay sales commissions to our referrers in order to get repeat business – we rely on grass root referrals - so we can pass these marketing savings onto you.
  1. Finally some companies specialise in depreciation and want your work and other companies will do the work for a price – so always shop around - but be careful to compare what you are getting for your money as unfortunately there are some ‘Cheap and Nasty’ reports out there that don’t maximise your return.

 

Quantity Surveyors; discounted professional reports – Up to 20% Cheaper and Definitely 20% Better!


Can I claim Tax Depreciation on an Old Building?

If your property was built after 1987, we guarantee that you will receive not 2X but a minimum of 3X our fee in deductions in the first full year of claim. In fact, we guarantee it or your money back!

What parts of a Property can't be claimed?

You can claim tax depreciation for most parts of a building that are related to the creation of assessable income, however there are some exclusions such as the cost of landscaping and retaining walls that do not play an inherent part of the buildings function.
Additionally as an Owner-Builder, you are not entitled to claim for your labour or development profit.

Do I need to hold Receipts?

You only need to hold records for elements of work that were undertaken after the date that you purchased the property. These receipts should be kept on hand in the event that the ATO elects to audit your depreciation claim. For all other work completed by a previous owner, such as the cost of the original building, the ATO will accept the valuation of a Quantity Surveyor.

Does it Matter Who Prepares a Report?

Yes!

We’ve all got to start somewhere – however if you’ve got the choice between ACP Quantity Surveyors and 18 years Depreciation experience and a new start up company with 2 years limited experience (and limited after sales service) – wouldn’t you prefer a pair of safe hands preparing your report? That $20 you save on the fee could cost you tens of thousands over the life of your property and expose you to risk with the ATO.

Is it Best to Use the Prime Cost or Diminishing Value Method of Claim?

Most investors use the Diminishing Value Method of claim – the simple reason is that it gives you the best return in the first 4 to 5 years of claim which means more cash upfront in your pocket! The Prime Cost Method offers you regular and consistent deductions over the life of the property.

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