Our QLD team is now in a shiny new office location.

Are you Overloaded? We understand that now more than ever, getting work through the door is key.

Use Mitchell Brandtman’s experience and technology to get ahead of your competitors and keep your clients happy.

Our highly agile and reliable team will work with you to deliver your trade packages and quantify changes to free up your internal resources for getting new revenue streams.

Get in touch with us to discuss!

Mitchell Brandtman NSW welcomes Tass Assarapin as a Partner of the firm.

Tass heads up Mitchell Brandtman’s Sydney CBD office which provides traditional cost planning & cost engineering services, specialist Financier Quantity Surveying and Asset Management / tax depreciation services.  

Starting as a cadet with Mitchell Brandtman, Tass has been a part of the team for over 12 years. He has a diverse range of experience in both the NSW and VIC markets, and opened the MB Melbourne office in 2014. Clients have relied on Tass’s expertise across a broad range of areas including residential, commercial, hospitality, accommodation, mixed-use, civil and health projects.

Our firm is built on people and relationships. Tass embodies these ideals and will continue to be instrumental in leading the business, working with our clients, mentoring team members, and sharing his knowledge on a day to day basis.

Contact Tass – Tass Assarapin  0403 104 042

A common problem, which is, or may be about to be experienced by many commercial landlords, are issues associated with tenants relinquishing their leases, vacating the property and abandoning their fit-outs.

Whilst this situation is obviously not ideal for a landlord, in today’s uncertain economic climate there are opportunities available. Landlords may inherit the tenants abandoned Division 43 Capital Allowances. This can result in significant tax deductions for the landlord.

What Is Tenant Abandonment?

Tenant abandonment occurs when a tenant vacates the premises either at the end of the lease or at any other time prior and does not make good the premises in accordance with the lease.

All items of tenant’s installations and tenant’s property will be considered abandoned and will become the property of the landlord. 

In this situation the ownership of the Capital Works, Division 43, component of the tenants fit-out reverts to the landlord, who can continue to claim the balance of the Division 43 allowances based on an annual claim of 2.5% of the original construction cost. Alternatively the landlord can claim the remaining value as a balancing adjustment should they carry partial or full demolition of the fit-out in order to entice a new tenant to take up the vacant space. 

Example A tenant incurs a capital cost of $300,000 to install a fit-out within a commercial/retail property. The Division 43 components of the fit-out primarily consist of:  

• Internal partitions.
• Hard floor finishes.
• Elements of electrical, mechanical  & hydraulic services.

The value (based on construction cost) of these Division 43 components is approximately $180,000 or 60% of the capital cost incurred by the tenant. (It should be noted that the landlord generally cannot claim deductions for the balance of the capital cost relating to Division 40 components such as workstations, furniture and fittings etc.) After three years the tenant relinquishes their lease and vacates the premises abandoning the fit-out. The beneficial ownership of the fit-out reverts to the landlord.   The landlord has two primary options available to them. 

Option 1 – Lease out the premises with the fit-out intact to a new tenant The landlord can continue to claim the inherited Division 43 deductions at the rate $180,000 x 2.5% or $4,500 per annum.  

Option 2 – Demolish the fit-out to meet the requirements of the market or a new tenant.  The landlord can claim the residual value of the Division 43 Allowances as a balancing adjustment which is approximately $4,500 p.a x 37 years = $166,500. In addition, provided they have not received a consideration from the tenant to make good, they can also claim the costs they have incurred to demolish the fit-out and make good the premises.

How Can Mitchell Brandtman Help a Landlord Identify & Claim Capital Allowances Resulting From a Tenant Abandoning their Fit-out ?

Mitchell Brandtman can:

•     Review all existing documentation relating to the fit-out. 
•     Visit the site to gain a comprehensive understanding of the fit-out. 
•     Measure & provide an estimate of the historical construction cost of the Division 43 assets. 
•     Provide a photographic record of the fit-out including all plant and equipment. 
•     Prepare a Capital Allowance Schedule reflecting the Capital Expenditure incurred by the tenant.  •     Calculate the value of the balancing adjustments resulting from the demolition of the fit-out.

Our friend, mentor and Partner of Mitchell Brandtman, Darryl Bird, celebrates 25 years with MB!!!!

Starting with our company as a cadet back in 1994 and now leading the National Financiers’ QS team, Darryl has played a huge part in shaping Mitchell Brandtman to be the success it is today.

Congratulations Darryl!!!

The team from the MB Melbourne office hosted yet another memorable VIP party at Metropolis. We would like to thank all of our Property Industry friends for sharing in a great night. It was a night to say ‘thank you’ and an opportunity to catch up face to face with all of our valued clients who have helped contribute to the success of Mitchell Brandtman.

Join us in welcoming Matthew Kritzler to his newly appointed position as Director at Mitchell Brandtman.

Mitchell Brandtman NSW is proud to welcome Matthew Kritzler as a Director of our firm. 

As a Director, Matt will be heading Mitchell Brandtman’s Infrastructure division which provides specialist Quantity Surveying and Cost Engineering Services from concept through to delivery and commissioning.   

Matt has over 20 years’ experience in the NSW market and clients have relied on his expertise across a broad range of areas including major rail projects, urban renewal, remediation, subdivisions, roads, bridges, mining, sewerage treatment, pipelines, substations, residential, commercial, public open space and retail. 

With nearly 50 years in business, Mitchell Brandtman understands that success is built on people and relationships. Matt embodies those ideals and will continue to be instrumental in leading the business, working with our clients, mentoring team members and sharing his knowledge on a day to day basis. 

You can contact Matt via email or direct line: e:mkritzler@mitbrand.com  d: 0438 133 267

Mitchell Brandtman is proud to be the Major Partner of TUD Aged Care & Retirement Living Summit

With a dedicated Aged Care & Retirement Living team who has extensive experience in this sector, Mitchell Brandtman  is proud to partner with The Urban Developer for these one day summits in Sydney, Melbourne and Brisbane. 

Darryl Bird, a Partner of Mitchell Brandtman delivered yet another very successful education workshop to some of Financier clients on the sunny Gold Coast.

Just one of the ways we are able ‘give back’ to our valued clients.

Today, the Team at Mitchell Brandtman congratulate Jeff Pun on his promotion to “Associate – Financier Services”

Jeff has been a fundamental member of the Finance team in Miranda for the last 5 years and his dedication to the service has delivered the results and ensured tight deadlines have been met.

Jeff has mentored and trained many cadets throughout the years whilst continuing to introduce new clients to MB.

Congratulations Jeff from us all!