Why do I need to use a quantity surveyor to claim depreciation?


(Transcript)

Well there’s a couple of points there. Firstly that unfortunately the APO doesn’t allow accountants to prepare those reports. Accountants typically don’t work in the building industry, so they don’t see them as being qualified to estimate construction costs, so we’ll just arbitrarily assign values to assets. That’s what quantity surveyors do. Typically, our bread and butter work would be telling a builder how much money they need to build a project by looking at the cost of materials and the cost of all of the things that make up the build. BMT basically reverse engineered that process. We go through, we just have a purchase price work with and effectively we go through and say what are all the bricks worth, and what the concrete’s worth and what all the fixtures and fittings are worth as well.

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