Commercial Tax Depreciation
Whether you are tenants or landlords, KC Partnership helps maximise your tax returns
Optimised depreciation through fizxed asset registers maximises returns
Adjusting deductions from the previous demolition and current depreciating asset
Many commercial property owners are unaware that depreciation is a live document which should be managed and updated on a annual basis to maximise deductions and tax savings. Koste have developed CODE (Creating Optimum Depreciation Entitlements) reporting for clients who have portfolios of property. This reporting will ensure your business maximises Tax Depreciation entitlements. We can enable the analysis and modelling at asset, property and protfolio levels incorporating asset data including tax depreciation, capital expenditure amd balancing adjustments.
Specialising in Tax Depreciation for Over 15 Years
Since 2005, KC Partnership has been helping our business clients minimize their income taxes by depreciating assets. Our quantity surveying expertise spans a wide range of projects, from vineyards to five-star hotels and resorts. Employing a Quantity Surveyor to complete your Commercial Tax Depreciation Schedule should not be taken lightly.
When it comes to tax depreciation, commercial real estate is treated very differently than residential. It requires a team well-versed in the laws and regulations currently in effect, as well as commercial property valuation. Keep in mind that some Quantity Surveyors may lack the necessary expertise to finish a depreciation schedule. It's important to hire a specialized company for this job because of the level of complexity involved.
Our Commercial Clients
Over the course of two years, KC Partnership has collaborated with CrystalBrook Collections. We offer expert Quantity Surveying services, including cost planning, tax depreciation schedules, and progress claims for newly constructed buildings.
Novotel, a 4.5-star hotel in the heart of Brisbane's central business district, has chosen us to take care of its assets, including its tax depreciation. The 2019 addition of the hotel's award-winning Spice restaurant and bar brings the total number of rooms to 238.
KC Partnership successfully provided Tax Depreciation Services for Aristocrats Australia’s headquarters in Sydney, Australia. Deliverables include reports for both Aristocrat Technologies (tenant) and Goodman (landlord).
Our professional Quantity Surveyors have put together a frequency asked questions for our clients. If you have any further questions, click the button below and we will get in touch shortly.
My property has been refurbished can i depreciate these costs?
Most older style properties will have had some sort of refurbishment work, whether a new kitchen or bathroom which will attract depreciation. Our Quantity Surveyor will be able to establish the cost of the works even if you don’t have receipts to include within your depreciation schedule.
How do you estimate the costs for the depreciation schedule?
The ATO have recognised that Quantity Surveyors are one of the few professionals to have the appropriate skills to calculate the cost of items for the purposes of depreciation in accordance with TR 97/25. We prepare depreciation schedules for all property types, estimating the historical construction costs using our extensive cost databases and in house resources.
What is the difference of a depreciation report and a valuation report?
A depreciation report shows the yearly tax depreciation of your investment property for a series of years, which can be used at your tax return to help reduce your taxable income and thus reducing your tax payable. The depreciation calculation is based on the construction cost with a fair allowance for the purchase price.
A valuation report shows the value of your property at a specific time point that you can use to calculate your capital gain or loss when you sell the property. The valuation of a property is based on the market condition as well as many other property attributes.
Is it worth to have a depreciation report if the property is more than 10 year’s old?
This will be a case by case scenario and will also need to take account of when you made the purchase (referring to the next question). Technically speaking, the depreciation of capital structures will be 40 years, which include both the originally constructed structures and any other additions in the years after, starting from the time when that structure was established. However, the value of the depreciation varies due to the condition of the property as well.
I just changed my main occupancy to an investment property, how will the depreciation be affected?
Google 5* Client Ratings
“The process was easy with the survey booked in quick. I definitely recommend KC Partnership”
“They did a depreciation schedule for me in 2010. unfortunately, somehow I lost it! But they were happy to send me another copy 7 years later free of charge.”
“Very affordable price and provided quick and efficient service. Will be coming back for future investments”