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Capital Gains Tax Valuations

Perth Property Valuers is the leading provider of capital gains tax (CGT) valuations in Western Australia. We have extensive experience across all property and valuation types. Our team of expert property valuers specialise in providing valuation reports which comply with the Australian Taxation Office (ATO) standards, including property valuations for capital gains tax purposes.

With over 20 years of experience behind them, our valuers can complete property valuation reports that are accurate, comprehensive, and well-researched. Additionally, our valuers have expertise in providing retrospective property valuations, as is often needed when determining CGT liability.

 

What is capital gains tax?

Capital gains tax is a tax on profit made through a property. This increase in capital must be reported to the ATO and is taxed accordingly. To correctly calculate the amount of profit or capital gain, an independent property valuation must be conducted by a certified property valuer. This is often required on multiple dates, current and retrospective.

Property valuations of CGT purposes are needed in situations where there has been an increase in capital due to the sale or transfer of a property, such as:

  • When an individual moves out of their primary place of residence to rent it out as an investment property
  • When an individual sells an investment property and must provide a retrospective report
  • When an individual moves into an investment property, turning it into a primary place of residence
 

How is CGT calculated?

An individual’s CGT liability is calculated by working out the amount of capital gain using the methods determined by the ATO. This capital gain is then considered taxable income of the relevant financial year. When determining capital gain, our valuers will prepare a property valuation that assists with the correct calculation of your tax liability.

Choosing a licensed and experienced property valuer to undergo a retrospective or current date valuation will provide you with the most accurate figures to determine your CGT cost.

 

ATO compliant property valuations

Capital gains tax can be a significant expense which reduces the total profit made from an investment property. To ensure the correct amount of capital gains tax is paid, the property valuations must adhere to the ATO standards.

Our valuers have the experience and qualifications to provide valuation reports that are accurate, detailed, and ATO compliant. By choosing an independent property valuer, you can be assured that you are provided with an accurate property valuation report, and that the CGT paid will be the correct amount.

If you require a property valuation for CGT purposes, whether retrospective, current or both, please contact our team on (08) 9468 3202.