Is a quantity surveyor’s (tax depreciation schedule) report required for tax return?
Yes—if you plan on claiming depreciation deductions, the ATO requires a report prepared by a suitably qualified Quantity Surveyor. Your accountant can’t estimate construction costs unless they hold the necessary accreditation.
A quantity surveyor like BWK Group will:
- Inspect your property.
- Identify depreciable assets under Division 40 and capital works under Division 43.
- Provide you with a fully ATO-compliant depreciation schedule.
This schedule can be used by your accountant to apply deductions over 40 years or claim immediate write-offs where eligible.
Dive deeper into why quantity surveyors (not accountants) must prepare these reports in:
>Who Is Responsible for Preparing a Depreciation Report?
And for report contents:
>What Does a Depreciation Report Include?