Estimate the cost of your next renovation and the first-year tax depreciation deduction available, in seconds. Built on MCG Quantity Surveyors industry build cost data.
Define the property profile, add the renovation items, see the results.
| Improvement | Total Cost | Depreciation Rate | First Year Depreciation |
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The MCG Renovation Calculator provides a general estimate of renovation costs and first-year depreciation that may be claimable on an investment property.
MCG Quantity Surveyors makes no guarantee on the accuracy or completeness of the calculator's results, and disclaims any liability for any explicit or implicit statements or omissions.
The calculator's outcomes are based on various assumptions, and may not align with your individual situation.
By using the MCG Renovation Calculator, you acknowledge the necessity of conducting your own analysis and obtaining independent advice before acting on any information it provides.
The calculator's results regarding depreciation should not be seen as guarantees, and there is no assurance that the depreciation amounts suggested will be claimable.
The MCG Renovation Calculator is not endorsed by the Australian Taxation Office.
The calculator is built on MCG Quantity Surveyors industry build cost data, the same dataset underlying our ATO-compliant tax depreciation schedules.
Pick the property type (House, Townhouse or Unit), the size band (Small, Medium or Large) and the standard of finish (Low through Prestige). The combination determines per-square-metre and per-unit base rates.
Add as many renovation items as you like from the list of 12 common upgrades, including kitchens, bathrooms, flooring, paint, ducted air conditioning and hot water systems. Each item is calculated independently.
See the estimated total renovation value, the depreciation rate per item and the total first-year depreciation deduction. Export to CSV to share with your accountant or quantity surveyor.
Australian investors can claim deductions for the wear and tear of renovation works under two ATO frameworks. The calculator estimates the first-year deduction across both.
Structural elements such as new kitchens, new bathrooms, fixed cabinetry, walls, ceilings, flooring and tiling depreciate at 2.5% per year over 40 years.
Depreciable items installed during the renovation, like carpets, blinds, curtains, ducted air conditioning, hot water systems, ovens and dishwashers depreciate over each item's effective life.
If your question is not covered here, get in touch and we will help.
The calculator gives you an estimate. A full schedule, prepared by a Certified Quantity Surveyor and Registered Tax Agent, gives you the itemised deduction figures your accountant needs to lodge with the ATO. From around $650, fully tax deductible.