Capital Gains Tax (CGT) applies to all investment real estate acquired or purchased after 20 September 1985. You will incur a CGT when your property or asset is sold at a higher value than when you purchased it for. On the other hand, if your property is now worth less than it was at the time you acquired it, it is considered a capital loss. The increase or decrease in value over time will ultimately determine the tax implications from the sale.
Our experienced and registered Valuers can produce a CGT report that accurately identifies the capital increase or decrease of your property. These valuations can either be completed in line with Current Market Value or in instances where a client may realise an investment property may need to be valued well after the event, a Retrospective Valuation can be undertaken.
Everyone wants to make as much profit as possible upon the sale of a property. Thus, it would be frustrating to learn that you have paid more tax than you needed to based on an inaccurate valuation. At Blanco Property Group, not only are we completely updated on tax regulations, our attention to detail, industry experience and most up to date market evidence ensures the reports we produce are 100% accurate. We are completely independent to the sale, so we will always work to ensure a precise CGT figure is calculated.
As Capital Gains Tax can be quite a complex area, Blanco Property Group recommend seeking advice from your accountant, financial advisor or ATO before booking in a valuation, as it is important to gain the relevant date/s of valuation.
Our Adelaide & Melbourne based Valuers are highly skilled and experienced in delivering Property Valuations for Capital Gains Tax purposes which are approved by the Australian Taxation Office. Call today to learn how we can help you.