Even an accountant couldnt accurately calculate the construction expenditure for determining the amount eligible for the division 43 allowance. Only a quantity surveyor could do that.
Who says you cant calculate your own Division 43 capital works deduction. The ATO. You might want to read TR 97/25
http://law.ato.gov.au/atolaw/view.htm?DocID=TXR/TR9725/NAT/ATO/00001
At paragraph 23 - 31 it states
23. Subsection 262A(4AJA) of the 1936 Act operates upon a disposal, by way of transfer, of capital works begun after 26 February 1992 and in respect of which deductions have been allowed or are allowable under Divisions 10C or 10D of the 1936 Act or Division 43 of the new Act. Broadly stated, it requires the transferor to provide the transferee with information that enables the latter to determine any entitlement under Division 43.
24. It is not always possible for the purchaser of a building to establish the actual cost of the building, particularly in circumstances where the builder or previous owner becomes bankrupt or is not able, for other reasons, to provide the information. In those circumstances, we accept a building cost estimate by an appropriately qualified person.
25. We consider that an appropriately qualified person has expertise in the calculation of building construction costs and is likely to be accepted by a court or tribunal as an expert witness on the issue of calculating the cost of construction of the particular building. That expertise may have been acquired through a course of study or through relevant experience in providing building cost estimates over a significant period of time.
26. The attainment of relevant professional qualifications or recognition by an appropriate professional association or organisation is indicative of expertise in this field.
27. Unless they are otherwise qualified, valuers, real estate agents, accountants and solicitors generally have neither the relevant qualifications nor experience to make such an estimate.
28. Appropriately qualified people might include:
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a quantity surveyor, who has expertise in the relevant type of construction;
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a clerk of works, such as a project organiser for major building projects;
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a supervising architect who approves payments at each stage in major projects and who may approve individual payments to subcontractors in smaller projects; or
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a builder who is experienced in estimating construction costs of similar building projects.
29. The question of whether a person has the required expertise is an issue of fact in each case.
30. We do not accept the use of published building cost guides to estimate the actual cost of construction, unless they are used merely as a guide by an appropriately qualified person. Building cost guides typically provide a cost per square metre of a range of building projects, based on industry averages. They are not sufficiently specific to the particular building being valued.
31. Building cost guides also include a reasonable profit margin for the builder. However, the builder's profit margin does not form part of the construction expenditure unless the original construction was commissioned from a builder whose charges for the work included such a profit. Where the original construction was carried out directly by the then owner, or by that owner using trade subcontractors and perhaps an architect, no such builder's profit was incurred as part of the capital expenditure on construction.
So unless you fit into one of those categories then you can't estimate the capital works deduction as it is a breach. Penalties 95%. Intentional disregard 75% plus 20% uplift penalty. That would well and truly wipe out the cost of obtaining a schedule.
Then we have the issue of the low value pool. What items go into the pool ? When do they go into the pool ? When do they move into the pool and what year ? Depreciation in the pool generally has higher rates of depreciation.
Is the asset eligible for a full write off at 100%.
First point is not estimating the costs it is reading the tax act. Depreciation schedule companies must be registered tax agents to provide such a schedule for that reason. They need to know the tax law first before they can accurately put together that complies with the law.