Australia's Largest Property Advisory Firm, 65 Offices Nationally
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We provide a comprehensive range of valuation, research and advisory services which are used by financial institutions, solicitors, accountants, property developers and corporations. We cater for all property valuation and consulting requirements, from individual residential properties to major development projects and corporate and government portfolios.
Herron Todd White provides independent property valuations to ensure you make an informed property decision. A certified practicing valuer will conduct a full inspection of the nominated property, carry out research and analysis into the local market and provide a detailed report providing information and commentary on issues affecting the current market value of the property.
Independent property valuations are useful for many different purposes and are tailored to suit your needs in the following situations:
Open Monday - Friday
Appraisals, Depreciation Schedules
Capital Gains, Commercial, Industrial, Investments, Residential
Inspections
Buildings, Farms
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Depreciation may be claimed on any property, either new or old. To claim depreciation allowance, the following conditions must be satisfied: The property must be owned by the taxpayer The property must be used for the purpose of producing assessable income, or be ready for use for that purpose.
If you own an income producing property (rental property or business related) then you should obtain a tax depreciation schedule if you wish to claim depreciation allowances. Schedules are prepared by qualified quantity survey professionals to not only ensure that all possible deductions are identified but also that ATO governing laws and requirements are met.
Yes, depreciation allowances for common areas are apportioned according to unit entitlement. Mandatory inspection of all properties especially the common areas in an apartment or high-rise block of units is carried out. Depreciable items in common areas include but not limited to fire hose reels, fire extinguisher, smoke detection & alarm system, hydrant pump, car parking, pool/spa equipment, gym fit out and equipment, etc.
To compensate taxpayer for the reduction in value of items used in the production of taxable income; assessed as building works, plant & equipment, and structural improvements.
Generally if you get the confirmation letter back to us today we would aim to carry out the inspection within the next few days, depending on access arrangements. The quantity surveyor would then prepare the report which could take another 7 days.
Yes, totally.
Tax Depreciation can be claimed once a property becomes income producing, i.e. deriving an income from tenancy or business related income. Depreciation allowances are bound by ATO tax rulings and legislation, with specific key dates playing a significant part in the preparation of a tax depreciation schedule. Reference to the Australian Taxation Office legislation and tax rulings for depreciation is governed by the Income Tax Assessment Act 1997.
