Your commercial tax return
Industry-leading Tax Depreciation solutions to help tenants & landlords get the best return.
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Koste leads the way in the area of tax depreciation. Our strength in this field ensures our clients attain the optimum depreciation entitlement as an offset to the decline in the value of assets that make up the property. Koste provides analysis and reporting solutions across a wide range of depreciation services. Our services encompass legislative provisions, including Division 40 Capital allowances, Division 43 Capital Works deductions. Also, this includes repairs & maintenance expenditures and related balancing adjustments on the disposal of assets.
Our goal is simply to maximise all available allowances for our clients, utilising current entitlements under ITAA 1997 (Income Tax Assessment Act). In the other words, Division 40 Capital Allowances and Division 43 Building Allowances.
Our Commercial Services
An initial deprecation schedule should be completed upon construction or acquisition of any property. It enables owners to maintain tax deprecation schedules, maximising your tax returns. As Quantity Surveyors, we identify and estimate all eligible depreciating assets. Including capital works, maintenance and depreciation reports. Our AIQS and RICS qualified Quantity Surveyors conduct all the assessments also documenting and providing photographic evidence to comply with ATO substantiation requirements.
Our detailed asset registers are compiled through a comprehensive survey carried out by our Quantity Surveyors. A detailed asset register will provide you with a full list of assets, which in turn will assist with compliance, audits , sinking funds, asset planning and ongoing tax deprecation.
Often over looked is the deductions you may be entitled to upon demolition of an asset. Whether it is capital works or a depreciating asset, the un-deducted value (written down value) of the asset can be claimed in the year of demolition.
Upon lease expiry the capital works component of the tenants fit out reverts to the landlord if the fit out is not demolished. Our assessment identifies the eligible capital works component.