What is Quantity Surveyor Report?

A Quantity Surveyor Report is a document prepared by a quantity surveyor, which typically contains detailed information on the cost and quantity of materials, labor, and equipment required for a construction project.

The report is usually prepared during the pre-construction phase of a project and can be used by the client or the project team to estimate the overall cost of the project, to plan the procurement of materials and equipment, and to ensure that the project is completed within the allocated budget.

The report typically includes a detailed breakdown of the costs for each element of the project, such as site preparation, foundation works, building works, mechanical and electrical installations, and finishing works. It may also include recommendations for cost savings, alternative materials or construction methods, and strategies for managing project risks.

The Quantity Surveyor Report is an important document in construction projects, as it helps ensure that the project is completed within the allocated budget and can also assist in negotiations with contractors and suppliers.

quantity surveyor report

Why do you need a quantity surveyor report to claim depreciation?

A quantity surveyor report is often needed to claim depreciation on a property because it helps to accurately determine the cost of construction and the value of assets within the property. The report provides a detailed breakdown of the construction costs and identifies all the depreciable assets, such as fittings, fixtures, and equipment within the property. This information is essential to calculate the depreciation that can be claimed on the property for taxation purposes.

The report typically includes an itemized list of all depreciable assets, their value, and their estimated useful life. This allows property owners to claim the correct amount of depreciation for each asset, based on its actual value and age, rather than using standard depreciation rates.

By engaging a quantity surveyor to prepare a depreciation schedule, property owners can maximize the tax deductions they are entitled to and potentially save thousands of dollars in taxes each year. Additionally, the report provides a useful record of the property’s assets, which can be helpful for insurance purposes and when selling the property in the future.

Quantity Surveyor Report cost in Queensland

The cost of a Quantity Surveyor Report in Queensland, Australia can vary depending on the scope of the project and the specific services required. However, the average cost of a Quantity Surveyor Report in QLD is typically between $3,000 to $6,000 AUD. It is important to note that this is just an estimate and the actual cost may vary based on the project’s requirements and the quantity surveyor’s experience and expertise.

Asset Economics provides Quantity Surveyor Report

Asset Economics only uses qualified Quantity Surveyors for your construction projects and tax depreciation schedules.

Our main focus is to ensure that every project runs smoothly and that property investors obtain every last cent of tax depreciation allowance they are legally entitled to.

If you have a construction project that needs expert management form a professional Quantity Surveyor, get in contact.

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