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Your EOFYproperty file.
Most property investors spend the first half of every accountant appointment tracking down documents. The PM annual statement. The loan interest certificate. The repair receipts. This tool produces the complete document checklist, flags capital works vs maintenance, checks your depreciation schedule status, and generates specific questions for the appointment — so the conversation is productive, not remedial.
Why this matters
**Why this *matters***
The capital vs maintenance distinction is where most investors lose deductions they should be claiming or overclaim deductions they shouldn’t. A repair restores original condition and is immediately deductible. A capital improvement adds value or extends useful life and is either added to the cost base or depreciated. The line between them is not always obvious. This tool flags every grey-area item for your accountant to determine.
If you don’t have a quantity surveyor depreciation schedule, this tool will tell you. QS schedules unlock Division 43 building allowance deductions on post-September 1987 constructions. For most investors without a schedule on a qualifying property, commissioning one before EOFY lodgement is the highest-value single action available — and the QS fee is generally deductible.
The 2017 budget changes restrict second-hand plant and equipment depreciation for properties purchased after 9 May 2017. If you purchased an established property after that date, new plant and equipment you installed is still depreciable, but existing plant and equipment in the property at the time of purchase is not. This tool surfaces that question for your accountant to confirm.
“Documents in before the appointment. Questions ready. Accountant bill smaller.
What you're building
Collect the basic details
Run the Tax Year Prep skill
Review the capital vs maintenance section
Check depreciation schedule status
Take the document list and questions to the appointment
What your accountant actually needs from you.
Accountants bill by the hour. Every document they have to chase costs you money. Every grey-area item they discover at the appointment — rather than receiving pre-flagged — extends the meeting and increases the risk of an error. This tool reverses the workflow: you arrive with documents organised, grey areas pre-labelled, and specific questions rather than open-ended queries about what might be deductible. Your accountant does the skilled work — the judgment calls, the verification, the lodgement. The preparation is yours to do, and this tool does it.
Your first run is fine. Your fifth is sharp.
Focus on capital vs maintenance first
List every repair or improvement and run the classification section first. Get clear on what is likely capital vs deductible before the appointment — it determines this year’s deductions and the future cost base.
Check QS depreciation schedule status
If no QS schedule: ask Claude ‘Should I commission a quantity surveyor depreciation schedule for this property before lodging?’ For a post-1987 property with no schedule, the answer is almost always yes.
Ask the CGT question if you might sell soon
If you’ve held the property for more than 12 months and are considering selling in the next 12 months, add: ‘What is our estimated current CGT position and is there anything to do before 30 June?’
Save the EOFY package to your Property File. Use it as the baseline for next year’s preparation. Update it after the appointment with what the accountant confirmed.
What it still gets wrong.
Deductibility is a tax-agent call
This tool produces a preliminary classification of repairs and capital works. A registered tax agent makes the final determination based on your specific circumstances, the nature of the work, and current ATO guidance.
Tax law changes
The 2017 changes to second-hand plant and equipment depreciation, the initial repairs rule, and CGT legislation are described based on the rules at the time of writing. Verify current legislation with your registered tax agent before relying on any guidance.
QS schedules require a qualified professional
A depreciation schedule must be produced by a qualified quantity surveyor — the ATO requires this. This tool identifies when one is likely worth commissioning. It cannot produce one.