Chattel Valuations
A chattel valuation is an extremely important step in the property investment process as it forms a large part of your tax rebate entitlement which you can claim back each year. Both the depreciation and the cost of the valuation are tax deductible. The company that we, at Opes, engage for this service is Valuit. If you have any questions about chattel depreciation, please reach out to your property accountant.
How much does a chattel valuation cost?
As an Opes client, you are entitled to an exclusive discount already factored into the following prices
- Standard Property: $375+GST
- Dual-key properties:
- Dual Key Apartment (Unfurunished): $525+GST
- Dual Key Apartment (with Furniture included in the purchase price): Up to $675+GST (depending on furniture package)
- Any alternative properties: Price on application
Frequently Asked Questions
Can you tell me more about chattel valuations?
If you are unsure about a chattel valuation, please read the 'Do I Really Need a Chattel Valuation?'. This will provide you with some insight on what a chattel valuation is, the benefits, and also what happens if you choose not to get one.
How much money do I save by getting a chattel valuation?
To learn more about chattel valuations and potential savings, listen to The Property Academy Podcast episode 'How to Save $13k+ in Tax with a Chattel Valuation'.
What happens once I've approved my chattel valuation request with the Opes CRM Team?
- Your Opes Client Relationship Manager (CRM) will send the request to Valuit once settlement has been confirmed.
- The Valuit team will get in touch with you or your property manager to arrange access to your property. Please note, this will be after settlement has occurred.
- They will complete the valuation of your chattels and complete the report.
- When the report is available, Valuit will be in touch with you to arrange payment of the invoice.
- Once payment is confirmed they will release the chattel valuation report to you.
Please note, the report can take a few months to come through as the Valuit team await systems from Council to complete the report. Once the report gets sent through, the valuation is to be provided to your accountant so that you can claim depreciation in the calculation of tax loss.
If you purchase whiteware for your property after settlement, please provide the receipts to your accountant directly.
If you have had a registered valuation completed on your property, please send the full report through to the Valuit team following the chattel valuation report come throughs . If this has not been carried out, not to worry, the Valuit team can obtain this information at a nominal cost of $10 +GST.