Frequently Asked Questions

Is your Quantity Surveyor a registered Tax Agent?

Under the new Tax Agent Services Act 2009 regime all professionals’ not just accountants and tax agent including quantity surveyors must be registered as Tax Agents. We are pleased to state to our patrons that our tax agent number is 53715002.

Is your Quantity Surveyor a member of the Australian Institute of Quantity Surveyors (AIQS)?

The AIQS is our industry body and as such assist their members to keep on top of the ATO guidelines and rules which may change instantly. To find out whether your QS is a member click here and follow the prompts.

Does your Quantity Surveyor specialise in tax work?

Ask your quantity surveyor how many years they have being providing their tax depreciation services. Such services can be provided at seldom occasion due to a long term clients request or when it’s during the high seasonal tax period. Quantity surveyors who are specialist with tax work and who provide constant advice on depreciating assets will be thorough and up to date with many legislative changes and current tax rulings providing you with a piece of mind during an ATO Audit.

Does your Quantity Surveyor offer money back guarantee policy?

Quantum QS Pty Ltd provides the guarantee that when you receive a Quantum QS Tax Depreciation Report your property tax depreciation deductions will be maximised. If we cannot obtain double our fee worth of deductions in the first full financial year claim then there will be no charge for our services guaranteed.

Will your property be inspected by an ‘appropriately qualified person’?

Some quantity surveying companies are taking short cuts by engaging untrained people to carry out site inspections and collect required data and information from these field trips. The AIQS and the ATO frown upon this practice. Ultimately these companies may produce cheaper schedules by taken this practice up but is it worth the risk? Don’t risk it. Inferior Tax Depreciation Schedules will not withstand an ATO audit.

Can your accountant easily read the tax depreciation schedule?

The last thing you want is for your accountant to charge you more for trying to interpret the tax depreciation schedule. Your accountant will want a historical construction cost at the time of construction and or an adjusted value formerly known as written down value of all fixtures and fittings as of the first available let date.

Will your QS provide and build in low value pooling and immediate write-off into the TDS?

Be sure to ask if you qualify for the above items and if you do that they will build this into your schedule which will enable to maximise your claim in the earlier period. If they don’t know or cannot provide these items then you are risking maximising your tax claim.

Will your tax depreciation schedule report have both depreciation methods?

As a property investor you can choose to adopt either of two different methods of depreciation available. Your accountant will advise you on the one that best suits your circumstances but make sure your report entails both the Diminishing Value [accelerated Depreciation] and Prime Cost [straight Line] methods.

Does the QS firm service the entire country?

You may need additional schedules down the track that may prove some cost saving benefits offered by select QS firms for loyal cliental ensure that they at least can service the majority of the country if not all postcodes.