Taxation Depreciation Schedules Reducing your Tax Bill A Tax Depreciation Schedule provides the information necessary to claim all deductions allowed by the Australian Taxation Office (ATO). The values of capital assets reduce over time, and some costs may be claimed as a tax deduction. Claims can be made on many components, if not the whole structure. The extent of the claimable works is dependent on many factors, including the age of the property, date of purchase and use of the property. The rates applicable also vary depending on similar factors as well as optional methods of calculation. PQS produce ATO compliant Tax Depreciation Schedules, by quantity surveyors who are registered tax agents, which will ensure you receive the greatest benefits possible from your investment. Insurance Advice, Valuations and ClaimsAsset Replacement Protection PQS will provide the documentation to ensure the appropriate level of cover to protect property. This will also ensure clients are paying an insurance premium relative to the level of insurance necessary, and not paying inflated prices. The information also enables the relevant insurer to expedite payments, should a claim be made against a policy. Updating insurance cover annually is advisable to cover the impact of inflation on the replacement cost of essential capital cost items as well as the impact on changes to building regulations and compliance. In the event that a claim is necessary, a current valuation will ensure clients receive the full cost of replacing assets, as well as other ?hidden? costs, such as demolition costs, consultants fees, costs for authorities approvals (councils etc), rental for temporary premises, etc. If you experience damage to a property, PQS can prepare an assessment of the damage and assist you in the submission of claims and negotiations with the insurance company assessors.
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