Tax Depreciation | 5 min read
What is a tax depreciation schedule?
A tax depreciation schedule is a quantity surveyor report that helps property investors and accountants identify eligible depreciation deductions connected to an income-producing property.
What the schedule does
The schedule sets out depreciation deductions for building works and eligible plant and equipment. It gives your accountant structured information they can use when preparing your tax return.
For many investors, the value is not just the first-year deduction. A well-prepared schedule can support claims across multiple years, subject to the property, construction history and current tax rules.
What it can include
A depreciation schedule can include Division 43 capital works, eligible Division 40 plant and equipment, construction cost estimates, asset details and year-by-year deduction summaries.
The exact scope depends on the property type, age, purchase date, renovation history and whether the property is used to produce income.
Who should consider one
Residential investors, commercial property owners, SMSF property owners and landlords with renovated or newer assets should consider whether a schedule is worthwhile.
Older properties can still be worth reviewing, especially where renovations, common property, extensions or commercial fitout may create eligible claims.
Next step
Want to see what a professional report includes?
If you are not ready to request a quote, request sample report formats first. You can review the structure, assumptions and level of detail before deciding which report is right.
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FAQs
Common questions
Is a tax depreciation schedule the same as a quantity surveyor report?
In this context, yes. Investors often use both terms to describe a depreciation report prepared by a quantity surveying specialist.
Can my accountant prepare the schedule?
Your accountant applies the depreciation information, but construction cost estimating for depreciation often requires a qualified quantity surveyor.