If you make a capital gain from your asset then capital gains tax is unavoidable. Although you can’t avoid paying it, you can influence the amount you pay. The first step is to get your assets valued so that you know their true value.
Valuations TAS prepare capital gains tax valuations every single day so you can rely on the valuation advice that you receive from us. We are capital gains tax valuation connoisseurs and undertake capital gains tax valuations every day.
What is capital gains tax?
Capital gains tax is payable on all investment properties that were transferred or purchased after September 1985. The tax is payable in three situations where the property has increased in value:
Within 12 months of buying/acquiring a property;Within 12 months of selling/gifting a property;During the course of ownership if the property concerned is an investment property.
If, however the property’s value has decreased that can have implications for your tax liabilities as it would be considered a capital loss. Ultimately a capital loss will reduce the amount of tax that you need to pay. Any capital loss can be offset against your other income but it’s not possible to use a capital loss to reduce a capital gain.
What is a capital gains tax valuation report?
A capital gains tax valuation report can be used to determine the capital gain or capital loss derived from the property. A capital gains tax valuation report will be required by the Australian Tax Office when determining the amount of tax that you should pay. This type of valuation can either be based on the current market value or backdated to a certain date, in what is known as a retrospective valuation. The purpose of a retrospective valuation is to know what the property was worth at a previous date in time.
Why choose us for a capital gains tax valuation?
Capital gains tax is one of the most expensive tax and can cost thousands of dollars which affects the return you get on your investment.
Operating in the valuations sector for more than 20 years and with Valuers who have at least 15 years of valuation experience, we are a market leader in capital gains valuations. We are not the cheapest in the market, however you can be assured that the valuation you receive from us is accurate, detailed and well prepared.
We hold Professional Indemnity Insurance and utilise the best property resources. We work with a variety of clients including:
Our property Valuers conduct extensive research to ensure that the valuation figure you receive is an accurate indication of what your property is worth. An accurate property valuation can save you on multiple valuation fees and it can also mean that you pay the right tax.
To book in with one of our professional Valuers give us a call on (03) 6169 2559 or fill out our enquiry form.