Find a Tax Depreciation Specialists on Sydney's Lower North Shore

Verified professionals

What tax depreciation specialists do

A tax depreciation specialist is a quantity surveyor who produces an ATO-compliant depreciation schedule for an investment property — quantifying the deductible decline in value of building structure (Division 43) and plant and equipment (Division 40) for your tax return.

Tax Depreciation Specialists cost in Lower North Shore

A residential depreciation schedule in Sydney typically costs $550 to $880, fully tax-deductible. The schedule is one-off; it covers the property's effective life and is updated only if there's a major renovation. Lower North Shore strata buyers consistently outnumber houses, with most transactions under $2.5 million.

Common issues tax depreciation specialists catch on Sydney's Lower North Shore

Two issues come up routinely. First, the May 2017 second-hand property rule change — if you bought an established residence after that date, you cannot claim depreciation on the plant and equipment that was already in the property when you bought it; only on items you purchase and install yourself. Capital works (Division 43) on the building itself is unaffected. Second, schedule timing — commission the schedule in the financial year you settle so the first-year deduction lands on the current tax return; if you missed prior years, your accountant can usually amend up to two prior returns to recover the deductions. The Lower North Shore is dominated by strata stock, with significant 1960s–80s building age — strata reports, capital works fund balance, and recent special levies matter on every transaction.

How the engagement usually flows

A typical engagement runs over two to three weeks. The quantity surveyor confirms the property type and access details, arranges a site inspection (often during a routine inspection by your property manager), prepares the schedule, and delivers it as a PDF formatted for direct use by your accountant. The schedule is valid for the life of your ownership; a top-up schedule is added only if you substantially renovate or change ownership structure.

Choosing a tax depreciation specialists on Sydney's Lower North Shore

Quantity surveyors producing tax depreciation schedules must be Tax Practitioners Board (TPB) registered tax agents. Verify on the TPB public register. The four signals to confirm before engaging: Current TPB registration as a tax agent — confirm on the public register; Quantity surveyor qualification (AIQS member or equivalent); Site inspection included — desktop-only schedules miss eligible items; Schedule formatted for direct use by your accountant or tax software.

FAQ

Frequently asked questions