Accurate • ATO Compliant • AIQS Certified
Often referred to simply as a depreciation report, 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 25 years in business, 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
- 25+ years in business across residential, commercial and mixed-use property
- Director with 40+ years in quantity surveying
- Over 10,000 projects completed, trusted by more than 1,000 chartered accountants
- Fixed-fee pricing and a money-back guarantee on every report
- 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. It sets out 40 years of deductions, itemised by financial year, under both Division 40 and Division 43 using ATO-compliant methods.
Prime cost and diminishing value calculations are both included, so your accountant can apply the method that best suits your position. The schedule covers structural elements, renovations, building services and all plant and equipment, and flags any assets eligible for an instant write-off.
Age alone does not rule a property out. Older properties may still hold claimable value, particularly where renovations or improvements have been completed.
Who the Service Is Suited To
ACP works with everyone from individual investors through to accountants and commercial property owners. Most reports are prepared for residential investors with rental properties, including owners who have renovated or upgraded.
Commercial, industrial and mixed-use owners use our reports for more detailed claims, often alongside other quantity surveying services. Accountants and tax advisers rely on them for audit-ready documentation for their clients.
We also prepare reports for Australian tax residents who own an investment property overseas and declare its income in their Australian tax return. Each property is assessed on its own merits, to the standard 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.
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.
Can you prepare a depreciation schedule for an overseas investment property?
ACP prepares depreciation schedules for overseas investment properties when the owner is taxed on the rental income in Australia, so the deductions can be claimed with the ATO. The schedule follows Australian tax rules, and we work with your accountant to confirm what applies to your situation.
How is a depreciation schedule prepared for an overseas property?
Every report starts with a review of the property’s construction details, ownership history and the documents you can supply. Our quantity surveyor then costs and classifies the assets under Australian tax rules, so your accountant can apply the deductions in your Australian return.
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.