Do you have what it takes to be a Quantity Surveyor?

BMT team — Thu, 14 Mar 2019 22:06:55 +0000

The position of a Quantity Surveyor is fundamental to most building projects and plays an integral part in managing building costs, estimating and calculating construction cost figures and ensuring value is prioritised at every step. A Quantity Surveyor must also abide to all the necessary regulatory standards. For budding professionals wondering what it takes to be a Quantity Surveyor, we look at the qualifications and skills necessary. Contents: Tasks and duties of a Quantity Surveyor Quantity Surveyors must be appropriately licenced and are recognised as such What qualifications do I need? What skills are employers looking for? Quantity Surveyors that specialise in depreciation Tasks and duties of a Quantity Surveyor A Quantity Surveyor will liaise with other construction professionals to deliver projects, examine structural drawings and specifications and review changes to construction plans and assess costs. They may be required to produce financial forecasts for clients and perform feasibility assessments to help guide project decisions. Quantity Surveyors can work in either the private or public sector. Private sector roles can be found at consulting firms, whilst public sector roles are found mainly in State Government Departments and authorities or in the Australian Construction Service with Building Contractors, Financiers, Property Developers, Project Managers and universities. Some Quantity Surveyors specialise in calculating construction costs of residential and commercial buildings for property depreciation purposes. This includes measuring and calculating historical construction costs for claiming building write-off based on the cost of the structural element of buildings. Of the Quantity Surveying and tax depreciation firms in Australia, BMT Tax Depreciation is considered the market leader. Quantity Surveyors must be appropriately licenced and are recognised as such Their skills are so valued that Quantity Surveyors are recognised under Tax Ruling 97/25 as one of the few professions with the ability to calculate costs for the purposes of depreciation. Quantity Surveyors are also required to be registered tax agents. It’s important to check whether there are any licensing requirements to work as Quantity Surveyor in your state. For example, in Victoria, Quantity Surveyors are required to be registered with the Victorian Building Authority. What qualifications do I need? To work as a Quantity Surveyor in Australia, you are required to gain graduate qualifications in quantity surveying or construction management, by competing a tertiary qualification such as the Bachelor of Construction Management or Bachelor of Construction Project Management. The Australian Institute of Quantity Surveyors (AIQS) offers higher education course accreditation and a substantial scholarship program for Year twelve students who qualify for entry into a Quantity Surveying, Construction Economics, Construction Management (Economics) or other appropriate course at an AIQS accredited university in Australia. It’ s also a good idea to explore cadetship opportunities. Some organisations offer cadetships for students completing relevant industry degrees. What skills are employers looking for? Employers look for graduates with knowledge in construction, estimating, contracts administration and for those who possess strong written and verbal skills. According research conducted by the employment website SEEK, employers are also wishing to secure candidates with proficiency in MS Office, who are team orientated and who possess persuasion and influence over others. Quantity Surveyors that specialise in depreciation A specialist Quantity Surveyor: documents every qualifying asset in a property calculates their depreciable value to ensure that the investor maximises their deductions and ensure full compliance with Australian Taxation Office (ATO) regulations, meaning all deductions are accurately evidenced in the event of an audit. BMT Tax Depreciation CEO, Bradley Beer says, “The most rewarding aspect of the job is showing property investors the difference claiming depreciation will make to their cash flow”. Bradley and the team of specialist Quantity Surveyors at BMT have completed site inspections on all property types ranging from residential houses and apartments to commercial properties such as hotels, industrial complexes, agricultural farms, amusement parks and other iconic Australian tourist attractions. To learn more about what it takes to be a Quantity Surveyor, read our BMT Insider blog, where Bradley explains the role of a specialist Quantity Surveyor at BMT. You can also visit our website to discover why you should choose a Quantity Surveyor. For more information, contact the expert team at BMT on 1300 728 726 or check out the BMT Careers page.

The post Do you have what it takes to be a Quantity Surveyor? appeared first on .

Depreciation and our iconic Australian tourist attractions

BMT team — Thu, 24 Jan 2019 22:01:21 +0000

Our beautiful Australian landscape, culture and iconic landmarks have become a beacon for tourists far and wide, who continue to flock to our nation each year to enjoy all our vast country has to offer. To celebrate our national day, BMT Tax Depreciation took a look at several tourist destinations and crunched some numbers to find out what their depreciable value could be if they were an investment property. The astronomical numbers may astound you. Dreamworld, Gold Coast QLD Dreamworld is a theme park and zoo situated on the sunny Gold Coast in Queensland. It’s recognised as Australia’s largest theme park, boasting over forty rides and attractions, including five impressive roller coasters. The owners of this popular theme park could claim a whopping $12,142,000 in depreciation deductions in the first full financial year alone and a massive $52,346,619 in the park’s first five cumulative years. Royal Australian Mint, Canberra ACT The Royal Australian Mint is the sole producer of all of Australia’s circulating coins. Opened in 1965 and situated in the suburb of Deakin within Australia’s capital city of Canberra, the Mint is a very popular tourist destination for visitors and locals alike. BMT estimate that if the Royal Australian Mint were an investment property, its owner could claim a massive $6,061,486 in deductions in the first year and $22,287,084 cumulative deductions over the first five years. SEA LIFE Sydney Aquarium, Sydney NSW SEA LIFE Aquarium in Sydney, New South Wales is a popular tourist attraction for families. The aquarium displays more than 700 aquatic species, comprising more than 13,000 individual fish and other sea and water creatures from most of Australia’s water habitats. Visitors can dive in and get up close and personal with these aquatic creatures as they wander through the aquarium on their journey of discovery. BMT found the hidden depreciation treasures of the aquarium and the owner/owners could claim $991,875 in the first full year depreciation claim and $4,393,736 in cumulative deductions over the first five years. Taronga Zoo, Sydney NSW Taronga Zoo is an iconic attraction located on the picturesque shores of Sydney Harbour. The zoo was officially opened on the 7th of October 1916 and is divided into eight zoo-geographic regions. Home to more than 2,600 animals across twenty one hectares, this makes Taronga Zoo one of the largest zoos in the world. BMT discovered if an investor owner the zoo they could claim $8,073,950 in depreciation deductions in the first full year and $38,213,162 in cumulative depreciation deductions over the first five years. That’s a lot of cash that could be put toward the zoo’s animal and native habitat conservation programs. For everyday residential property investors and commercial property owners, we can provide depreciation estimates for any type of property including apartments, houses, industrial buildings and even tourist attractions. To request an estimate visit bmtqs.com.au/estimate or speak with one of our experienced staff on 1300 728 726.

The post Depreciation and our iconic Australian tourist attractions appeared first on .

» Uncategorised

Do you have what it takes to be a Quantity Surveyor?

Depreciation and our iconic Australian tourist attractions