Tax Depreciation | 4 min read
What information does a quantity surveyor need for a depreciation report?
You do not need to have every document before asking for advice, but the right information helps your quantity surveyor scope the report and avoid delays.
Start with the property basics
Provide the property address, property type, settlement date, purchase details and whether the property is currently income-producing.
If the property is commercial, mixed-use, strata or recently renovated, note that early because it can affect the report scope.
Useful documents
Helpful documents can include the contract of sale, settlement statement, plans, rental details, renovation invoices, strata information and any previous depreciation schedule.
If documents are missing, a quantity surveyor may still be able to help by estimating construction costs from available information and inspection evidence.
When to involve your accountant
If your accountant has a deadline or specific reporting preference, share those details early.
A good schedule should be easy for your accountant to interpret and apply.
FAQs
Common questions
Do I need plans before requesting a quote?
Plans are helpful but not always essential. Start with the property address and ownership details, then provide extra documents where available.
What if I do not know the construction date?
Tell the quantity surveyor what you know. Construction date can often be estimated from available property information and due diligence.