property depreciation
   Tax Tips    Property Depreciation Reports

Property Depreciation Reports

A property depreciation report (also called a depreciation schedule) sets out the tax depreciation and building write-off claims for new or existing investment properties or business premises. The depreciation on plant and equipment refers to depreciating items within the building such as stoves, dishwashers, air-conditioners, hot water systems, etc. ‘Building write-off claims’ refer to the annual deduction allowed on the original actual building costs.

Property depreciation reports are prepared by quantity surveyors who must be members of The Australian Institute of Quantity Surveyors (AIQS). The preparation of a property depreciation report involves a quantity surveyor visiting the property to note down and photograph all depreciable items before providing the ATO compliant tax depreciation schedules.

The property depreciation reports only need to be prepared once for each property. The quantity surveyor fees are 100% tax deductible.

The advantages of using a qualified quantity survey report include:

  • Maximum entitlements – This ensures you can claim the maximum depreciation deductions.
  • ATO approved – Under the Australian Taxation Office Ruling 97/25.
  • Accurate estimates – Quality surveyors are fully qualified to accurately estimate the depreciation on your building and contents.

Further details are found at and