What is a Quantity Surveyor?
A Quantity Surveyor is a professional who specialises in estimating the value of construction costs and other assets. Quantity Surveyors may get involved at various stages: prior to construction, during construction and post-construction. We use our skills to determine the cost of building works and fit-out, whether we’re looking at a residential property or any of the structures and assets within the vast spectrum of commercial properties.
Quantity Surveyors are one of the few professionals recognized by the Australian Taxation Office to have the appropriate skills to calculate the cost of items for the purpose of tax depreciation. The values we provide are unique: they’re not a market value or a replacement cost. Instead, construction costs are estimated using today’s values and then historically indexed to the year of construction. Meanwhile, we value plant and equipment items (commonly known as fixtures and fittings) to reflect their potential to contribute to a property’s ability to produce income.
BMT Tax Depreciation are Quantity Surveyors who exclusively specialise in property tax depreciation. We have the complex skills and over twenty years of experience to ensure that our depreciation schedules maximise deductions for investors, unlocking the full cash flow potential of their property.
Article provided by BMT Tax Depreciation www.bmtqs.com.au