COST PLANNING AND CONTROL:
Full cost planning of your project will ensure the project is designed and built
to your budget requirements. Construction Cost Opinions are provided throughout
the stages of design – inception – sketch design – design development – working
drawings. Cost checks and comparisons are provided to test alternative material
selections and design options.
BILLS OF QUANTITIES:
The Bills of Quantities is an essential tool in providing cost control for your
building project. It provides an equal basis for tendering, and tender analysis,
and ensures variations and contract reductions are negotiated at correct values.
The Bill’s further use in calculating values for progress payments ensures
payments to builders are correct and overpayment does not occur.
CONTRACT ADMINISTRATION: We offer full
post contract administration for your building project. Our services may include
contractual advice, attendance at site meetings, verification of builder’s
progress payments, negotiation and agreement of variations and builder’s claims,
review and agreement of the builder’s final account. Our participation in the
construction stage of projects gives our client’s the peace of mind knowing we
are protecting their financial interests.
AUDIT SERVICES FOR FINANCIAL INSTITUTIONS: A
full service is provided to banks and financial institutions to their individual
requirements. This generally includes the provision of our initial report
confirming project costs, approvals, insurances, program, a review of pre-sales
contracts and projected cash flows. Our regular progress reports include our
assessment of progress payments, on a cost to complete basis, monitoring of the
project cash flow and payments to subcontractors.
SINKING FUND FORECASTS: Sinking fund forecasts
have been mandatory for Bodies Corporate in Queensland since the implementation
of the Queensland Body Corporate and Community Act 1997. Our forecasts ensure
sufficient funds are raised to provide for anticipated expenditure on capital
items in the current year and a reasonable proportion of anticipated expenditure
in the following nine years.
are concise and easy for the layperson to follow and understand. Our reports are
prepared following a visit to the property and any immediate maintenance work
required is identified within our report.
have in excess of 900 sinking fund forecasts in our database representing
buildings from duplex to multi-unit residential and commercial properties.
Our reports are prepared in close consultation
with the body corporate committees and body corporate managers.
We offer a full ongoing
update service for our clients.
RETIREMENT VILLAGES – “Sinking Funds”:
We have significant experience in the provision of
Maintenance Reserve Fund Forecasts and Capital Replacement Fund Forecasts for
retirement villages, as required by the Retirement Villages Act 1999.
REPLACEMENT COST OPINIONS (FOR INSURANCE): Our
replacement cost opinions for insurance purposes, provide the building owner or
body corporate with a full assessment of the current costs of rebuilding. This
includes and identifies separately provision for professional fees, cost
escalation and demolition costs.
have in excess of 500 replacement cost opinions in our database representing
buildings from single houses to multi-unit residential and commercial
TAX DEPRECIATION AND SPECIAL
BUILDING WRITE OFF REPORTS FOR INVESTMENT PROPERTIES:
income tax law you are allowed to claim deductions for expenses incurred in
earning your assessable income. Some expenses, such as the cost of acquiring
capital assets are not allowable. Capital assets are those that provide a
benefit over a number of years – for example, in the case of investment
properties, appliances, hot water services, light fittings, curtains and
The value of
such assets gradually reduces over time as they approach the end of their
effective lives. Assets that lose value in this way are said to depreciate. In
recognition of this fact, the cost of capital assets used in producing
assessable income can be written off over a period of time as a tax deduction.
building write off: Additionally you may deduct certain kinds of construction
expenditure. In the case of residential rental properties, the deductions are
generally spread over a period of 25 or 40 years.
Deductions based on construction
expenditure apply to capital works such as building or an extension, eg adding a
room or garage. Deductions are allowable only for the period the property is
rented or is available for rent.
reports will provide you with appropriate values for both tax depreciation of
plant and articles and for the special building write off. If required we can
provide a schedule indicating the annual amounts of deductions for the next ten
We are pleased to provide property developers with indicative schedules of tax
deductions for their marketing purposes.
Tax System: A simplified Tax System (STS) for small business taxpayers applies
from July 1 2001. This provides significant advantages, for those taxpayers who
are eligible and elect to operate under the STS, including allowing immediate
write off for depreciating assets costing less than $1000
following Australian Taxation Office (ATO) Rental Property Tax Depreciation
instructional video highlights the role a quantity surveyor can play in
evaluating the value of your rental property.”