Quantity Surveyor (QS) Reports in Australia: What Investors Need to Know
- jake78314
- Nov 20
- 3 min read
If you own an investment property in Australia, a Quantity Surveyor (QS) report is one of the most effective tools for reducing your taxable income and maximising your annual return. Thousands of property investors use QS reports to legally claim property depreciation, putting more money back in their pocket every financial year.
At Propti, we connect investors and accountants with certified Quantity Surveyors nationwide who specialise in fast, compliant and ATO-ready depreciation schedules.
This guide breaks down what a QS report is, why it matters and how the process works from start to finish.
What Is a Quantity Surveyor (QS) Report?
A Quantity Surveyor report is a professionally prepared document outlining the depreciation value of an investment property. It details how much you can claim each year on the wear and tear of the building structure and its eligible fixtures, fittings and assets.
A certified Quantity Surveyor is one of the few professionals recognised by the Australian Tax Office (ATO) to estimate construction costs and prepare depreciation schedules.
A QS report is essential for maximising your allowable deductions.
What Does a QS Report Include?
A standard QS depreciation report includes:
Full internal and external inspection of the property
Breakdown of capital works deductions (Division 43)
Plant and equipment depreciation items (Division 40)
Effective life calculation of all eligible assets
Year-by-year depreciation projections
ATO-compliant report format
Schedules showing both diminishing value and prime cost methods
This ensures your accountant can lodge accurate and compliant depreciation claims every year.
Who Needs a QS Report?
You need a Quantity Surveyor report if you:
Own a residential or commercial investment property
Purchased a newly built or established investment property
Are planning to renovate
Are an accountant preparing client tax returns
Work with property investors as an advisor or finance professional
Even older properties can generate significant depreciation deductions, depending on condition and improvements.
How Much Can You Claim?
The amount varies depending on the property's age, construction cost, improvements and included assets.
However, many investors typically claim between:
$4,000 to $15,000 in depreciation per year
This reduces their taxable income and increases overall returns.
How Much Does a QS Report Cost?
QS reports generally cost between $400 and $800 for standard residential properties. More complex commercial or multi-dwelling properties may require custom quoting.
Propti ensures you receive competitive pricing and fast turnaround from certified QS partners.
How Propti Makes QS Reports Simple
We’ve streamlined the entire depreciation process for investors and accountants.
Book online
Select QS report, provide property details and any renovation information.
We assign a certified Quantity Surveyor
Your property is inspected and assessed by an ATO-recognised specialist.
Receive your ATO-ready report
Your depreciation schedule is delivered quickly, clearly structured and compliant with all current ATO requirements.
Nationwide coverage
Propti supports QS reports across all states and territories.
Frequently Asked Questions
Is a QS report worth the cost?
Absolutely. Most investors claim far more in depreciation than the cost of the report, making it a strong return on investment.
Can I claim depreciation on older properties?
Yes, depending on renovation history and asset eligibility. A QS can determine the maximum deductions available.
Does the property need to be inspected?
In most cases, yes. Physical inspections ensure accurate reporting and compliance with ATO rules.
How long does a QS report last?
A QS report typically covers up to 40 years and only needs updating if major renovations occur.
Can accountants prepare QS reports?
No. Only certified Quantity Surveyors are recognised by the ATO to estimate construction costs and depreciation schedules.
