Perth Capital Gains Tax Valuations
Capital gains tax is the tax which will be paid based on the profits from selling a property. When selling a property, there will either be capital gains or a capital loss, this is something which you will report in your income tax return.
How is capital gains tax (CGT) calculated?
There needs to be a completed independent capital gains tax valuation report to determine the value of the property. This will therefore determine how much tax may conceivably need to be paid. Capital gains tax is calculated by working out the difference between your capital profit and the cost of your capital asset.
To complete a capital gains tax valuation in Perth, our expert valuers research the local marketat the relevant point in time (when the property was purchased), and review the wider market. Once we have determined the value of the property at the previous point in time, we compare that with the current market valuation and the difference between the two monetary amounts will determine the capital tax gains payable.
Capital Gains Tax Valuations Perth
Our team of expert certified valuers have over 20 years’ experience and have worked locally for more than a decade. Our valuers have comprehensive understanding on the local area and pride ourselves on delivering exceptional customer service, consistency, and precision. WA Valuers have access to current market value data and research abilities to provide a reliable property valuation for tax purposes.
We understand that calculating a capital gains tax valuation can be time sensitive, which is why we provide a professional and efficient service to deliver the final report in a timely manner. We are able to provide current, and retrospective property valuations to calculate the tax on the property’s capital gain.
The information provided in the report includes:
- Description of the property valued
- Specific market value or period to which the valuation relates
- The date the valuation was begun and completed
- Details of the methods used
If you require a capital gains tax valuation, or any expert advice, please call our team of professionals on (08) 9468 3290 or fill out our enquiry form, we will be happy to assist.