Capital Gains Tax And Stamp
Duty Services –
Capital Gains Tax And Stamp Duty Services –
Property Valuation Capital Gains Tax (CGT)
Our experienced ATO-approved valuers are here to provide accurate, reliable and transparent property valuation for capital gains tax. Request a Quote.
Property Valuation for Tax Purposes in Australia
Australia offers incredible financial opportunities through property investment. However, while purchasing and selling can be lucrative, it’s essential to understand your tax obligations. Whether you need a current or retrospective market value to estimate your capital gains, stamp duty or GST, we’re experts in property valuation for the following tax purposes.
Property Valuation for Tax Purposes in Australia
You'll either make a capital gain or loss whenever you sell or transfer an asset, whether it's shares, collectables or property. We specialise in calculating property capital gains or losses, allowing your accountant to calculate your capital gains tax.
GST Margin Scheme for Properties
Australia offers incredible financial opportunities through property investment. However, while purchasing and selling can be lucrative, it's essential to understand your tax obligations. Whether you need a current or retrospective market value to estimate your capital gains, stamp duty or GST, we're experts in property valuation for the following tax purposes.
Stamp Duty on Properties
If you're planning on transferring a property privately to a relative, superannuation fund or between trusts, you'll need to organise a property valuation for stamp duty. Even though there's no money exchanged for the transfer, you must still pay stamp duty based on the property's fair market value.
Frequently Asked Questions
What is capital gains tax on property in Australia?
Capital gains tax is payable on gains made from selling a property. For example, when a $400,000 property sells for $600,000, GCT is paid on all or part of the $200,000 profit.
How much is capital gains tax on property?
The amount of capital gains tax depends on how long you had the property before selling it, along with other factors. The net gain will be combined with your taxable income if you sell it within 12 months. However, it becomes more complicated when the property sells after 12 months.
How do I calculate CGT on a property?
There are three main ways to calculate CGT on a property: discount, indexation, and capital loss method. If you need help calculating the CGT on your property, get in touch with our experienced valuation team.
Who Needs A Capital Gains Tax Property Valuation Report?
Capital Gains Tax Property Valuation Reports are needed for taxation purposes if you’re buying, selling, or renting out your property. An accurate CGT valuation by Vanguard Valuations can be conducted retrospectively or on the date the property is inspected. It’s also possible to perform CGT valuations if the property has been demolished, sold, or inaccessible.
How do Vanguard Valuations Help With Property Valuations for Capital Gains Tax?
Property valuations for Capital Gains Tax conducted by Vanguard Valuations are a formal process conducted by an accredited property valuer. Our CGT valuation reports detail the value of a property as at a retrospective date or the current market value of a property. CGT property valuations are evidence-based and use historical data over a time frame of six months.
How Much Does a Capital Gains Tax Property Valuation Cost?
Vanguard Valuations offers Capital Gains Tax property valuations at a reasonable and fair price. Our independent property valuers draw upon 50 years of industry experience with all property valuation requirements.
Contact us to request a quote.
Other Services Recommended For You
While we’re known experts in property valuation for capital gains tax, we also provide tax depreciation schedules.
Stay Up-to-Date
See our blog post on the Top 5 Common Mistakes to Avoid when Valuing Your Property
For commercial or investment property, a vacant plot of land or a holiday home, the price at which you sell the property will be used to assess the capital increase or decrease and any tax that’s payable.
The consequences of an incorrect property valuation can be significant. Making false or misleading statements can lead to penalties from the ATO. The penalty amount uses a statutory formula based on the amount of tax avoided and your behaviour. Penalty units can be considerable.
As qualified and approved ATO professionals, our property valuations ensure you get peace of mind that there will be no penalties for false or incorrect valuations.
An accurate capital gains tax property valuation helps to identify the capital increase or decrease of your property assets. And while a CGT property valuation is an ATO requirement, this valuation is vital to ensure you only pay the tax you need to.
