Accurate • ATO Compliant • AIQS Certified
A tax depreciation report helps you understand exactly what you can claim on your investment property, both now and in the years ahead. It gives you and your accountant a clear breakdown of available deductions, while also making it easier to understand how tax depreciation works in practice.
With more than 35 years of experience, ACP prepares fixed-fee, ATO-compliant reports for residential and commercial properties across Australia. Every report is completed by an AIQS-certified quantity surveyor, giving you clear advice, reliable figures, and confidence at tax time.
What Is a Tax Depreciation Report?
The ATO allows owners of income-producing properties to claim depreciation as the building and its assets decline in value over time. As part of the broader tax depreciation process, those deductions are generally split across two main categories.
Division 43 (Capital Works) covers the building’s structural elements, including walls, roofing, flooring and fixed finishes. These deductions are typically claimed over up to 40 years from the date of construction.
Division 40 (Plant and Equipment) applies to removable or mechanical assets such as air conditioning units, carpets and appliances. Each item is depreciated over its effective life as set by the ATO.
A professionally prepared report brings both categories together in one clear schedule, making it easier for your accountant to apply the deductions correctly each financial year.
Why Choose ACP
With registration as a Tax Agent through the Tax Practitioners Board and membership with the National Tax and Accountants’ Association, ACP brings another layer of credibility to every report. That means accountants, auditors and the ATO can rely on a document prepared to recognised professional standards.
- AIQS-certified quantity surveyors on every report
- 35+ years of experience across residential, commercial and mixed-use property
- Over 10,000 projects completed, trusted by more than 1,000 chartered accountants
- Money-back guarantee on every report
- Fixed-fee pricing with no hidden costs
- Fast turnaround and clear reporting that your accountant can use straight away
What the Report Includes
Each ACP tax depreciation report is designed to give accountants and property owners a clear, practical schedule they can use straight away. Every report includes:
- A 40-year tax depreciation schedule, itemised by financial year
- Deductions under both Division 40 and Division 43, using ATO-compliant methods
- Both prime cost and diminishing value calculations, so accountants can apply the method that best suits the investor’s position
- Coverage of structural elements, renovations, building services and all plant and equipment assets
- Instant asset write-off eligibility was identified where applicable
Age alone does not rule a property out. Older properties may still hold claimable value, particularly where renovations or improvements have been completed, and each property is assessed individually to ensure the available deductions are captured accurately.
Who the Service Is Suited To
ACP works with everyone from individual investors through to accountants and commercial property owners, preparing tax depreciation reports that are clear, compliant and ready to use. Reports are commonly prepared for:
- residential investors with rental properties
- commercial and industrial owners seeking depreciation support alongside other quantity surveying services
- mixed-use property owners managing more detailed claim scenarios
- owners who have renovated or upgraded their property
- accountants and tax advisers looking for reliable, audit-ready documentation for clients
Each property is assessed on its own merits, with the report prepared to reflect the deductions available and the standard of documentation accountants expect.
How ACP Delivers the Report
ACP follows a clear, structured process so every tax depreciation report is thorough, accurate and easy for your accountant to use.
Property review
The process starts with a review of the property’s construction details, ownership history and available documentation, helping build a complete picture of the property and any improvements made over time.
Inspection, when required
If an inspection is needed, an AIQS-certified quantity surveyor visits the property to identify structural elements and plant items, making sure eligible assets are picked up and classified correctly.
Costing and classification
From there, assets are assessed under Division 40 or Division 43 and costed using ATO-aligned methods, with assumptions clearly recorded along the way.
Report delivery
The final report is then provided in a clear, accountant-ready format, structured for easy use and prepared in line with ATO documentation standards.
Frequently Asked Questions
Can I claim depreciation if the previous owner renovated the property before I bought it?
A property may still include claimable depreciation where improvements or renovations were completed before purchase, particularly if those works form part of the eligible depreciable elements of the income-producing property. A professionally prepared tax depreciation report can help identify those components and assess how they should be treated.
Is a tax depreciation report still worth ordering if my accountant has not asked for one?
A tax depreciation report can still be worthwhile, as many investors are unaware of how much depreciation may be available over time. It gives your accountant a structured, compliant basis for applying deductions while giving you greater visibility over the potential value of the claim.
What if I do not have the original building plans, construction cost details or renovation invoices?
Missing records do not automatically prevent a report from being prepared, as many property owners do not have complete documentation. A quantity surveyor can assess the available evidence and apply recognised estimating methods to identify eligible claimable items as accurately as possible.
Can I get a tax depreciation report if I only recently realised I may have been missing deductions?
A report can often still be prepared even if you did not arrange one when the property was first rented or purchased. It gives your accountant a properly prepared basis to assess what may be claimed from this point onward and whether earlier years should be reviewed.
How does depreciation work if I have renovated the property in stages over time?
Staged renovations can make depreciation more complex, but they do not rule it out. A detailed report helps separate those components properly and present the deductions in a format your accountant can use with confidence.
Will a cheap online depreciation option give me the same result as a professionally prepared report?
A lower-cost option is not always equivalent, especially where the property includes renovations, mixed asset types or incomplete documentation. The quality of the report matters because it affects how accurately deductions are identified and how confidently the figures can be relied on.
Is a tax depreciation report useful when comparing the value of keeping or upgrading an investment property?
A tax depreciation report can help by showing the deductions attached to the property in its current state and the tax value of improvements made over time. While it is not a substitute for financial advice, it can provide clearer information for owners and advisers reviewing overall property performance.
Can a tax depreciation report help with newer improvements added after settlement?
Later improvements may form an important part of the depreciation position, particularly where the owner has completed works after purchase. Including these items properly in the report helps create a more complete and useful record for future tax treatment.
Get Started Today
If you are ready to arrange a tax depreciation report, ACP can provide a fixed-fee quote before any work begins. The team will confirm whether your property is eligible, talk you through the process, and make sure you know exactly what to expect from the outset.
To get started, contact ACP today or call 1300 550 311 to discuss your property and request a clear, upfront quote.