Tax Depreciation for new house - Melbourne

Discussion in 'Accounting & Tax' started by rik, 17th Mar, 2017.

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  1. rik

    rik New Member

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    17th Mar, 2017
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    Hello Everyone,

    I am looking for a good (experienced and value for money) surveyor (individual or company) who can get my tax depreciation report/schedule done for my new house in Melbourne.

    I know of BMT and Washington Brown by I have heard that they are very expensive.

    Pls let me know of any ones that you have heard are good or have first hand experience with them (and do justice to the money spent on the property).

    Thanks in advance.

    Rik
     
  2. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    They arent "very expensive"....Depreciator and BMT do probably 75% of the schedules for PC members I see. Their prices are competitive and comparable. A new house could have $10,000+ pa of initial deductions and for $500-$800 (that is alos tax deductible) I reckon its a lifetime of value.

    These quantity surveyors are specialists in this field and also offer a PC discount on request. I tend to avoid WB as they costs a little extra and offer to pay a kickback referral fee which I refuse.

    Call them to discuss.
     
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  3. Ross Forrester

    Ross Forrester Well-Known Member Business Member

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    You won't get much cheaper than the two mentioned.

    If you do you are talking $100. I would prefer to use a trusted brand.
     
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  4. Perthguy

    Perthguy Well-Known Member

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    I would recommend Depreciator Depreciation | Tax & Property Depreciation Schedule | Depreciator or BMT Residential & Investment Property Depreciation Schedules

    The fee is tax deductible in the first year I think. Check with your accountant or @Terry_w or @[email protected] might be able to confirm.

    Depending on the build cost, the depreciation in the first year could be around $10,000. It is worth hiring a good company to do this when your depreciation potential is so high and the fee for preparing the depreciation schedule is tax deductible.

    It is worth noting that @BMT Tax Depreciation and @Depreciator both post on this forum.
     
  5. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    Perthguy gets done for plagarism or maybe a echo ?
     
  6. Perthguy

    Perthguy Well-Known Member

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    Or not reading previous posts properly :oops:

    If I bothered to read your post I would have picked up the PC discount too. Thanks @[email protected]
     
  7. rik

    rik New Member

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    I obtained a quote from WB and they are charging me $600. BMT is charging me $730 (after PC discount).

    BTW, what do you mean by WB asking to pay a kick back referral fee??

    Ta.
     
  8. Paul@PFI

    [email protected] Tax Accounting + SMSF Business Plus Member

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    Some QS firms pay referrer fees to advisers who recommend them. I dont like to use such firms as its is a sign to me they are overpriced to cater for that arrangement. I have never asked or been offered this by the firms I refer.
     
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