Maximise the Tax Deductions available from your Rental or Investment property.
When you own an investment property, the rent you receive is taxable income. Australian tax rules allow eligible property owners to claim deductions for the decline in value of certain building costs and assets over time through Tax Depreciation.
A Tax Depreciation Schedule identifies the eligible Depreciation Deductions within your property and calculates what can be claimed each year.
Prepared by qualified Quantity Surveyors, R24 schedules are suitable for use by your accountant and include a full site inspection.
$549 inc GST
Tax Depreciation Schedules
What is Tax Depreciation?
When you own a rental or investment property, you may be entitled to claim Tax Deductions for the decline in value of eligible building costs and assets over time.
Property depreciation generally falls into two categories: Capital Works, which can include eligible construction and structural improvements, and Plant & Equipment, which covers eligible depreciating assets within the property.
A Tax Depreciation Schedule prepared by a Quantity Surveyor identifies the eligible items within your property and calculates the Deductions available each year.
The Schedule can then be provided to your Accountant when preparing your Tax Return.
How It Works
1
We Inspect
We arrange a site inspection to identify the property, construction details, improvements and eligible assets required to prepare your schedule.
2
We prepare your Schedule
Our experienced Quantity Surveyors prepare a comprehensive, ATO-compliant Tax Depreciation Schedule detailing eligible deductions for up to 40 years.
How Much Does a Tax Depreciation Schedule Cost?
Residential Tax Depreciation Schedule
$549 inc GST
One fixed price. No hidden fees.
Full site inspection of the property
Assessment of eligible Building Works and Assets
Relevant Strata/Common Property where applicable
Preparation by experienced Quantity Surveyors
ATO-compliant Depreciation Schedule covering up to 40 years
Prime Cost Method (PCM) and the Diminishing Value Method (DVM)
Free Annual Update
3
Give it to Your Accountant
Provide the completed Schedule to your Accountant to use when preparing your Tax Return.
What Can You Claim?
Capital Works – The Building
Eligible construction expenditure and improvements such as the building structure, walls, floors, roofing and fixed structural components may qualify for capital works deductions.
Plant & Equipment – Eligible Assets
Certain removable or mechanical assets may qualify for Depreciation, depending on the property, when it was acquired and how the asset was obtained.
Tax Depreciation and the New Negative Gearing Rules
The rules for Negative Gearing residential property are changing from 1 July 2027.
Properties acquired before the Government's announcement on 12 May 2026 are grandfathered under the existing negative gearing arrangements until sold. Eligible new builds can also continue to access negative gearing. Different rules apply to established residential properties acquired after the announcement.
Tax depreciation remains a separate consideration. A depreciation schedule identifies the eligible depreciation deductions associated with the property; how those deductions affect your overall taxable position depends on your circumstances and the rules applying to the property.
Your accountant or tax adviser can advise how the negative gearing rules apply to your individual circumstances.
Frequently Asked Questions
FAQs
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A Tax Depreciation Schedule is a report that identifies eligible depreciation deductions for a rental or investment property and calculates the amounts that may be claimed each year. R24 schedules are prepared by experienced Quantity Surveyors and can be provided to your accountant for use when preparing your tax return.
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If your investment property contains eligible capital works or depreciating assets, a Tax Depreciation Schedule can help ensure the available deductions are identified and calculated correctly. The potential deductions vary depending on the property’s age, construction history, improvements, assets and when you acquired it.
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Potentially, yes. Older properties may still contain eligible renovations, improvements or depreciating assets. The original building may also qualify for capital works deductions depending on when construction occurred. We can assess the property and determine what depreciation may be available.
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R24 generally carries out a full site inspection as part of our residential Tax Depreciation Schedule service. This allows us to inspect the property, identify relevant improvements and assets, and gather the information required to prepare a comprehensive schedule.
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R24's residential Tax Depreciation Schedule costs $549 including GST. This includes the site inspection and preparation of the depreciation schedule by our Quantity Surveying team. There are no hidden fees.
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A schedule can calculate eligible deductions for up to 40 years, depending on the property and qualifying expenditure. You generally don't need a new schedule every year, although significant renovations, improvements or changes to the property may require an update.
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Your accountant applies the deductions when preparing your tax return, but a Quantity Surveyor has specialist expertise in construction costs and can estimate eligible construction expenditure where historical costs aren't available. We prepare the Tax Depreciation Schedule and you provide it to your accountant.
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Tax depreciation and negative gearing are related but separate tax concepts. Changes to negative gearing may affect how losses associated with a residential investment property are treated, while a Tax Depreciation Schedule identifies the depreciation deductions available for the property. How those deductions apply to your individual tax position should be discussed with your accountant or tax adviser.
Who invests in property?
It’s not just high-income professionals like surgeons.
What’s not commonly discussed is that the largest group of property investors in Australia are Teachers.
While Medical Specialists lead the way in terms of percentage of their profession, it’s Teachers, Nurses and Tradies who, in sheer numbers, invest heavily in property to grow their wealth and they use Negative Gearing and Tax Deductions to make it possible.
Why Choose R24?
Experienced Quantity Surveyors
Your Tax Depreciation Schedule is prepared by an experienced Quantity Surveying team with specialist knowledge of Construction Costs and property Depreciation.
Full Site Inspection
We inspect the property rather than relying solely on information entered into an online form, helping us identify relevant construction, improvements and assets.
18 Years of Experience
R24 has been providing specialist property reporting and Quantity Surveying services since 2008.
Fast turnaround
Reports delivered in just 5-7 business days.
Australia-Wide Service
We provide Tax Depreciation Schedules for residential investment properties across Australia.
Fixed Price – $549 inc GST
One transparent price including the site inspection and preparation of your Tax Depreciation Schedule.
No hidden fees.