Tax Depreciation to maximise your tax savings and get the most out of your investment property. As a strata unit owner, your Body Corporate is required by law to have a Sinking Fund Forecast in place to provide funds for future maintenance/replacement of your Common Property. Insurance Replacement Valuation for your property.
All Body Corporates are now required by law to obtain an independent insurance replacement valuation (by a Quantity Surveyor) at least every 5 years. With over 40 years experience in the construction industry, Costeff offers that extra level of service to ensure our clients are well looked after.Since 1992, we have performed thousands of Tax Depreciation reports, Insurance Replacement valuations, Sinking Fund budgets and Construction Progress valuations on properties up and down the east coast of Australia.
All Body Corporates are now required by law to obtain an independent insurance replacement valuation (by a Quantity Surveyor) at least every 5 years. With over 40 years experience in the construction industry, Costeff offers that extra level of service to ensure our clients are well looked after.Since 1992, we have performed thousands of Tax Depreciation reports, Insurance Replacement valuations, Sinking Fund budgets and Construction Progress valuations on properties up and down the east coast of Australia.
Services
Costeff was founded by Ron Callaghan in 1994 whilst working in the quantity surveying profession since 1965. With over 40 years experience in the construction industry, Costeff, trading as Ron A. Callaghan has experienced continual growth. Our family orientated business offers that extra level of client service to ensure our clients are well looked after.
Recent ATO changes to the Tax Depreciation Laws now require Quantity Surveyors to be registered with the Tax Practitioners Board (TPB) as 'Registered Tax Agents'. Here at Costeff we are fully qualified and registered with the TPB. The calculation of Depreciation on items such as carpet, blinds, stove, air conditioning, etc. (plant and articles).
We will visit your property and assess the extent and timing of future capital expenditure required on the common property. The forecast for each annual proportional share over the next 9 years after this financial year is calculated including G.S.T. and assumes a 5% annual increase in building costs.
I just purchased a newly constructed house, is it worth my while having a Tax Depreciation schedule carried out? Yes, it certainly is. As the owner of a new property you can expect the maximum deduction per year against your total income. My investment property is an old Queenslander, there have been renovations carried out prior to purchasing the property, can I claim those as depreciable items?
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