Capital Gains Tax Valuation
Capital gains tax (CGT) is the tax payable on capital gains from the sale of an investment property acquired after September 19, 1985. You may be liable for CGT if your capital gains exceed your losses.
Determining market value of the property is essential in calculating CGT. Only professionally qualified property valuers can provide this market valuation.
Renting out your former principal place of residence will trigger the need to pay CGT, so it is advisable to obtain a market valuation at the time the property is first made available for rent as an investment property. We can provide a combined service which includes a CGT valuation and tax depreciation schedule. One inspection; two reports; one competitive fee.
Gifting a property also triggers the need to pay CGT.
Herron Todd White is ideally placed to undertake property valuations for CGT purposes, whether it is a current market valuation or a retrospective market valuation.