What is a Quantity Surveyor?
There are a number of people we speak to that ask the same question of us, ”What is a Quantity Surveyor?” the answer is really quite simple.
In the following paragraphs we’ll try and answer the question for you.
Quantity Surveyors complete a tertiary degree course and then undertake work experience to qualify them for membership of the Australian Institute of Quantity Surveyors.
Work ranging from office blocks, schools, hospitals, factories to bridges, railways, oil and mining development, shipbuilding and large process engineering works such as oil refineries etc are some of the projects worked on by quantity surveyors. Most construction work has usually been assessed by a surveyor and they are also known as Cost Managers which form part of a team of professional advisers to the construction industry.
Quantity Surveyors work closely with architects, financiers, engineers, contractors, suppliers, project owners, accountants, insurance underwriters, solicitors and Courts and with all levels of government authorities.
During design and construction phases of a building, they ensure that the design remains on budget.
As advisers they estimate and monitor construction costs, from the feasibility stage of a project through to the completion of the construction period. After construction they may be involved with tax depreciation schedules, replacement cost estimation for insurance purposes and, if necessary, mediation and arbitration.
When construction is complete the quantity surveyor produces depreciation schedules of the various project components and advise on realistic insurance replacement costs. In the case of construction the quantity surveyor is often called on as an expert witness during a dispute.
In addition to new projects, quantity surveyors also use their skills in refurbishment of old buildings, alterations to existing buildings and insurance replacement estimates.
Preparation of Tax Depreciation schedules for investment properties is one of the main jobs of a Quantity Surveyor. The Tax Depreciation schedule allows you as a property owner/investor to maximise your tax savings on your investment property or properties.
In most cases, property owners are not aware of all the potential tax benefits available to them.
Contact iScope Property Solutions on 1300 88 11 28 now to organise your tax depreciation report or email us at iScope Property Solutions