Capital Gains Tax Valuation in Sydney
Valuations NSW conducts tax valuations based on the advice you receive from tax authorities, accountants, and financial planners.
If you require a capital gains tax valuation in NSW for your property then you have come to the right place. Valuations NSW offer CGT valuation reports at affordable prices with quick report delivery times. Our valuations are conducted by experienced certified valuers who have access to the most current market data to derive the most accurate valuation for CGT purposes.
IMPORTANT NOTICE: Recent CGT law changes affecting non-residents and off-shore owners
Non-residents and offshore owners of Australian property have been impacted by changes in the 2012 federal budget handed down by the Labour Government. The changes which took affect at 7:30pm on the 8 May 2012, will see the 50 per cent capital gains tax (CGT) discount removed for non-resident individuals who hold interests in Australian property. Individuals impacted by the changes can still claim the CGT discount for capital gains accrued prior to 8 May 2012. We strongly recommend those affected by this change obtain a capital gains tax valuation report to mitigate rising capital gains tax requirements now being imposes on off-shore and non-resident investors.
What is capital gains tax?
Capital gains tax (CGT) is applicable to all investment real estate (and other investment asset classes) purchased or acquired after September 1985. The tax is charged when you sell your property or asset and it has increased in value from the time of its acquisition. Conversely if the value of your asset has decreased from the time you purchased to the time you sold the investment it is considered a capital loss. Investors need to determine the increase or decrease in value over the holding period to calculate the capital gain tax implications.
What is a capital gains tax valuation report?
A capital gains tax valuation report is used to help identify the capital increase or decrease of your property asset. The valuation can be current or retrospective. Current valuations are used to determine the value of your asset in the current market. A retrospective valuation is used to determine the value at a previous date or point in time.
Capital Gains Tax Valuation Sydney
Capital Gains Tax can really affect investment returns and can be a costly tax! Therefore an accurate valuation is crucial to make sure you do not pay more tax than you need to. We conduct CGT valuations for a host of clients including individual investors, company and trust entities. Be weary of valuers who offer cheap CGT valuation reports. Often these companies do not carry the proper professional indemnity insurance and do not have access to the proper property resources to research the market for the most relevant and comparable sales. This can lead to inaccurate valuations for the purposes required and will cost you more in tax than what you will save on the fee! Our valuers are experienced in providing valuations for capital gains tax purposes and have access to the best property research databases, so we can find the most relevant market sales for your purposes and have all the necessary details at our finger tips.
You can also view our full range of property valuation services in NSW.
Capital Gains Tax Valuation FAQs
What is a capital gains tax (CGT) valuation?
A capital gains tax valuation is a formal valuation report that determines a property’s market value at a relevant date to help calculate capital gains or losses. It may be required for current or retrospective (back-dated) dates depending on your circumstances.
When do I need a retrospective CGT valuation?
A retrospective CGT valuation may be needed when the relevant valuation date is in the past, such as the purchase or acquisition date, a date of death for estate matters, or another historical date required for taxation or legal purposes.
What information do you need to complete a CGT valuation?
Typically you’ll need the property address, the effective valuation date, property details (improvements, condition, land details where available), and any relevant documents such as contracts, plans, or historical records. The valuer will also research comparable sales evidence around the relevant period.
Is a CGT valuation accepted for taxation and legal purposes?
A properly prepared valuation by a qualified valuer is commonly used for taxation and legal matters. Acceptance depends on the specific requirements of the matter, but a formal valuation report is the standard evidence when a market value must be supported.
How long does a capital gains tax valuation take?
Timeframes depend on the property type, complexity, and whether the valuation is retrospective. In many cases, a CGT valuation can be completed within standard valuation timeframes, but older dates or unique properties may require additional research.
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