Is a Quantity Surveyors Report required for a positive geared investment home ?

Was looking to get one done but now im confused as I've been told that i may not need one as the home is positve geared, will it be beneficial to get one done anyway?

Hi Oz

You have to be careful who you get told things by. Getting a depreciation schedule has nothing to do with positively or negatively geared property.

Short answer is yes it will be beneficial as you get a deduction against the rental income you generate now, reducing your taxable income and the tax payable.

Hi Oz,
Definitely get a depreciation schedule. This will offset the property income and reduce your overall taxable income

Hi Oz,

I agree with Suresh - be careful with what you are told. For many people getting a depreciation schedule is a wise move as they can claim the depreciation against their income and reduce their income tax. Whilst this does increase the capital gain in the future, with the 50% CGT discount and the possibility in realising that gain in the future when you have a lower taxable income, it is usually best to claim the depreciation.

BUT - not for everyone and that's why you shouldn't throw a blanket rule over everyone. You might not have any taxable income at the moment so you aren't paying any tax on the rental income, so claiming depreciation isn't going to give you any benefit now but could potentially increase the amount of capital gains tax you pay in the future.

So your question can't be answered accurately without further information about your situation but it is likely that you will want to get a depreciation schedule and claim the depreciation.

Cheers

Glenn