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Renovations and Depreciation: Division 40

by Archi-QS | Jul 12, 2021 | All Posts, Quantity Surveying, Tax Depreciation

ATO: “Any owners who purchase a second-hand residential investment property who have exchanged contracts after 7:30 pm on the 9th of May 2017 will not be able to claim tax depreciation on existing Plant and Equipment (Division 40).”  Well, have you renovated recently?...

The Design and Building Practitioners Act 2020 (DBP) Act Key Takeaways

by Archi-QS | Jun 30, 2021 | All Posts, Architecture, Project Management, Quantity Surveying, Updates, Insights & Thoughts

What is the DBP? The Design and Building Practitioners Act 2020 (DBP) Act regulates design and building work in NSW by imposing certain obligations on Design, Building and Engineering Practitioners. The DBP Act covers class 2 buildings and buildings that include a...

The Value of Australian Standards Key Takeaways

by Archi-QS | Jun 30, 2021 | All Posts, Architecture, Project Management, Quantity Surveying, Updates, Insights & Thoughts

What are They? Standards Australia is the country’s leading independent, non-government, not-for-profit standards organisation. Australian Standards (AS) establish a common language to define quality and safety. In a nutshell, a standard is an industry-backed solution...

Overview of Stage 1 in the Strata Building Bond Scheme

by Archi-QS | Jun 29, 2021 | All Posts, Quantity Surveying, Strata Building Bond and Inspection Scheme

Stage 1 of the Strata Building Bond and Inspections Scheme is for the developer of a new residential strata building (4 storeys or higher) to lodge a building bond in the form of a bank guarantee with NSW Fair Trading. This is required prior to obtaining the...

The Strata Building Bond and Inspections Scheme

by Archi-QS | Jun 29, 2021 | All Posts, Quantity Surveying, Strata Building Bond and Inspection Scheme

What is the Process for Complying with the Strata Building Bond and Inspections Scheme?  There are many different stages for the developer to undertake in order to comply with the Strata Building Bond and Inspection Scheme. NSW Fair Trading offers a general process...

Capital Gains Tax: Capital Loss and Equipment Depreciation Schedules

by Archi-QS | Jun 29, 2021 | All Posts, Quantity Surveying, Tax Depreciation

What is Capital Gains Tax? Capital Gains Tax (CGT) is a form of income tax that a property owner is liable to pay within the financial year of selling their property. When selling a capital asset, shares or real estate, you usually make a capital gain or a capital...
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