Capital Gains Tax Property Valuation
At Valuations VIC, we employ the most highly qualified capital gains tax valuers in the business. Property valuations or capital gains tax (CGT) purposes can aid in determining your tax liabilities.
When you sell a property in Victoria, you are legally required to pay your CGT. This applies to real estate, shares and various other valuable assets. The CGT is calculated based on the difference between the sale price of the asset and its cost base.
This accounts for both the original purchase price, as well as any associated costs, such as:
- legal fees
- stamp duty
- brokerage fees and more.
A CGT valuation requires your valuer to establish the value of the asset in question at the time of acquisition. This is called a retrospective valuation and should be conducted before the property is sold in order to prepare.
Remember: CGT does not apply to assets acquired before September 20, 1985.
How do we perform a property valuation for CGT purposes?
Valuation of property for CGT purposes is done according to strict, proven methods.
We begin by identifying the type of asset and its acquisition date. This will help us to determine how significantly the property’s value has changed over time. Qualifying properties for CGT valuations include homes, investment properties, commercial premises and even vacant land.
Over the course of the valuation, we’ll use comparable sales data, rental income and other factors to determine a fair value.
To ensure accuracy, any renovations, improvements or repairs that could increase the property’s value will be carefully considered as well.
Regardless of the approach, our guarantee is an accurate, transparent and objective report.
Call us today
Valuations VIC are the premiere group of capital gains tax valuers in Melbourne.
For more on how our valuers are qualified, how we perform CGT valuations or to receive a free quote, call one of our specialists at (03) 9021 2009.