The ATO recognise Quantity Surveyors as the qualified professionals to assess building costs to be used for depreciation. While an accountant is an expert in taxation, they are not qualified to estimate building costs. Tax Ruling 97/25 of the ITA (1997) specifically states that “valuers, real estate agents, accountants and solicitors generally have neither the relevant qualifications nor experience to make such an estimate.”
Tax Depreciation is a specialised field, and Quanto are experts in this field. Quanto use our vast knowledge of constantly changing construction costs and tax legislation to ensure our clients are receiving the correct advice and tax benefits that they are entitled to.