What is Tax Depreciation?
Depreciation is an accounting term that refers to the ageing and wearing out of the building and its assets over the period of time.
Many of the investment property owners in Australia, are unaware that their eligibility to receive further tax returns by having an ATO compliant Depreciation Schedule for the investment property.
Depreciation Schedule shows the amount of deductions in your investment property over the period of its lifetime, due to depreciation of the building and its assets.
You can reduce tax on your income earn from the investment property with a Depreciation Schedule duly prepare by a qualified Quantity Surveyor. Which mean, you would increase your tax returns and get more your hard earn money back
Benefit of Choosing JKR QS
Who is Quantity Surveyor?
Quantity Surveyor (also known as a “QS”) is a highly skilled construction industry professional with expert knowledge on construction costs and contracts. Almost all types of construction projects, ranging from large building projects, residential/ commercial/ community extensions, civil, to infrastructure projects, etc can benefit from the services of a QS.
Why you need a Quantity Surveyor?
An architect is designing your vision. Then, a building construction company is constructing your vision. But a Quantity Surveyor holds all the cards on key issues ensuring that the design and construction of your vision is within the agreed budget.
It is important to highlight that a Quantity Surveyor is a Construction Cost expert. The knowledge and special skills of the Quantity Surveyor will guide you to develop a realistic budget reflecting your desired time, cost and quality objectives. Also, a Quantity Surveyor is in a position to conduct Value Engineering studies and recommend alternative materials which will reduce the life cost of your project while increase its Value without compromising the functional requirement.
However, the Client who did not appoint a Quantity Surveyor early in the project are bearing the risk of his investment would not reflect the real value for money as there are no one to adopt cost controlling strategies during the design development stage. This leads the design development may exceed the Client’s budget and it will affect the Client’s financial capability and economical viability which may lead the Project would not be feasible.
During the Tender stage, a Quantity Surveyor is the professional associate with the Construction Cost and is in a position to propose a most suitable procurement strategy and evaluate and recommend the most suitable Contractor in order to execute the construction. Nevertheless, in the absence of a Quantity Surveyor Clients bearing the risk for proceeding with a Contractor, who has submitted a lower tender price than its actual price of the project and struggle to complete the project or run away or become insolvent during the construction.
During the Construction phase of the Project, a Quantity Surveyor is a vital professional to ensure that you pay the Contractor for what he has actually done at site. Conversely, failing to appoint a Quantity Surveyor during the Construction phase, the Client will bear the risk or overpayment to the Contractor more than what the Contractor is entitled and struggling with the cash flow issues.
In addition, Quantity Surveyor will look after all the contractual matters in administrating the construction contract, subcontracts, supplier agreements, etc. ensuring that there is no contractual implications that would effect the project completion or take necessary immediate measures to minimise the risk of delays in completion.
Quantity Surveying services that we offer
From the inception, we provide professional project management services that assists our clients in achieving their project objectives. We are the client's independent representative of the Client Client's best interests first and foremost at every stage of the development process.
To us, effective project management means, risk management and ensuring the project is conceptualized, designed and built in the most cost-effective and timely manner without compromising the Client's objectives. Our Project Management Service covers the management of all phases of the project process from inception to completion including:
