What is a Quantity Surveyor
One of the most popular questions that I get asked is ‘What is a Quantity Surveyor?’. Apart from the normal answer, which is ‘I am a Quantity Surveyor’ I thought I would answer that question here for you now.
A Quantity Surveyor is basically the Accountant on a Building Site, they look after all the financial and contractual matters relating to construction costs.
If you are building a house or extension then you will enlist the help of a Quantity Surveyor to help provide costs for you or just check your Builder’s costs if you already have quotes.
A Quantity Surveyor starts from feasibility stages and helps monitor costs right though to the completion of a project and even helps with final account and claim settlements.
As a Property Investor, the ATO stipulates that you need a Quantity Surveyor to prepare your Tax Depreciation Schedule on your Investment Property. This report is then passed on to your Accountant who will use the depreciation each year in order to save you tax.
As a savvy investor this will help you pay less tax and also help your cash flow. So many investors out there do not know about the benefits they are missing out on by not getting a Tax Depreciation Schedule on their property.
For further information on Quantity Surveyors or Tax Depreciation please visit TSL Project Services.
Happy Investing!
Filed Under: Property Investment • Tax Tips
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