Capital Gains Tax Valuation
Capital gains tax is unavoidable when you make a profit from the ownership of a property or real estate asset. Whilst it’s not possible to avoid paying capital gains tax, it is possible to ensure that you’re paying the correct amount of capital gains tax by getting your property valued. Getting your property valued for capital gains purposes will give you a true indication of what the property is worth, and subsequently you will know exactly how much capital gains tax you’re required to pay.
NT Valuers produce property valuations for many clients wanting to know the value of their property so they can accurately calculate their capital gains tax obligations.
NT Valuers property valuers are property valuation experts and have completed hundreds of capital gains tax property valuations.
What is capital gains tax?
There is no such thing as a specific capital gains tax. Capital gains tax refers to the difference between what you paid for an asset and the profit, also known as the capital gain. The total capital gains tax you’ll have to pay depends on the length of time that you’ve owned the asset, your marginal tax rate and whether or not you’ve made any losses.
The capital gain or capital loss you’ve made from the asset will be added to your tax return for that particular financial year. If the asset has been owned for more than 12 months then a 50% discount may be offered.
If there’s been a capital loss then when assessing your taxable income it will be used to offset your income and reduce the amount of tax you are required to pay. Although a capital loss can be used as an offset against a capital gain it is 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 is an instrument that can be used to determine the capital increase or the capital loss of your asset.
When you’re getting a capital gains tax valuation, it can be based on the current market value or it can be retrospective to a particular point in time.
Why choose us for a capital gains tax valuation?
NT Valuers' sole business is completing property valuation reports which means we are well versed in completing property valuations. We offer value for money and a high quality service that you can rely on.
At NT Valuers, we only employ the best property valuers with a minimum of 15 years of local valuation experience. We are experts in the field, and we conduct property valuations for a broad spectrum of clients including, but not limited to companies, individual investors, and trusts.
Research is an integral part of the property valuation process and we will conduct research into the property’s previous sales, comparable sales, the current rental value (if it’s being rented) and any modifications that have been made to it since it was purchased.
To get started with the valuation process give us a call on (08) 8911 1505.