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 top your tax return for that particular financial year. If the asset has been owned for more than 12 months then the Australian Tax Office normally offers a 50% discount on the capital gain tax if the tax is payable.

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. The Australian Tax Office requires you to include a property valuation report when submitting your tax return. They require this as evidence of your capital loss or capital gain so they can correctly assess your tax liabilities.

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’s sole business is completing property valuation reports which means we are well versed in completing property valuations. We know exactly what the Australian Tax Office needs in a capital gains tax valuation. We offer value for money and a high quality service that you can rely on.

With a 20 year history behind NT Valuers we only employ the best property valuers with a minimum of 15 years 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; 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.

Any valuation figure you receive will be accurate which could save you significant money in capital gains tax.

To get started with the valuation process give us a call on (08) 8911 1505.