A CGT event needs the property's market value on one specific date. We assess a Austral property as at that date, today or years back, and a registered valuer signs it.
Not certain which date your accountant needs? Send us what you have and we will prepare the figure to whichever date they nominate.
A CGT event happens when it happens, and in Austral that is often a quiet stretch with nothing comparable settling either side of it for a while. The figure is still owed for that exact day, and reaching it means working from the evidence that does exist and saying how.
If you lived there first and later let it out, its value on the first day of letting is the figure the whole calculation rests on.
Beneficiaries generally need market value at the date of death. Backdated valuations are ordinary work here, not an exception.
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Market value is assessed on the exact date, from what had settled by then and with the distance between those sales and the date accounted for.
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It establishes the market value of the property at a specified capital gains tax event date. The signed report documents the evidence and methodology so your accountant can use the figure when applying the relevant CGT rules.
Use the date relevant to your CGT event, not automatically today's date or settlement date. It may be a contract date, date of death, first income-producing use or another date identified by your accountant or tax adviser.
Yes. The valuer reconstructs market conditions at the nominated historical date using sales and information available for that period. Older or unusual dates can require more research, so provide the date and any historical property information you hold.
A market value at the first income-producing date can be important where the home first used to produce income rule applies. Eligibility depends on your ownership and use history, so confirm the rule and valuation date with your accountant before ordering.
The relevant cost base treatment can depend on when the deceased acquired the property, how it was used and what happened after death. Date of death is common, but your accountant or estate adviser should identify the required valuation date for your circumstances.
Yes, a CGT valuation can establish market value where parties are not dealing at arm's length or no normal sale price exists. The valuation does not determine the tax outcome by itself, so obtain advice on the event and any available rollover or exemption.
The report records the subject property, valuation date, basis of value, methodology, comparable market evidence and the valuer's signed conclusion. This creates a supportable evidence trail, while the ATO retains the ability to review any valuation.
Many residential CGT valuations can be completed as desktop reports, particularly for historical dates. If the property is unusual, evidence is limited or the condition at the relevant date is disputed, the valuer may recommend more information or an inspected report.
No. It provides the market value component requested in the valuation instruction. Your accountant combines that figure with eligible acquisition, ownership, improvement and disposal costs and applies the tax rules to calculate the final gain or loss.
Provide the exact date, ownership details and any historical plans, photos, leases, renovation records or descriptions of the property's condition. This helps the valuer distinguish what existed at the event date from changes made later.
One fixed price, and no rounding the date to whenever something last sold.