Taxation & Superannuation

Stamp Duty, Capital Gains Tax,
Retrospective Estimates

property insurance valuation methods

Stamp duty is the tax payable upon transfer of ownership of real estate between two or more parties.

A stamp duty valuation is required when transferring ownership between related parties or where property is being transferred into a superannuation fund or various other trusts and legal entities.

Stamp duty valuations are prepared for use by Revenue NSW for the calculation of stamp duty. Our valuations are generally valid for 3 months, but longer if market values deemed static by the valuer (we may provide a letter to evidence such as well).

01.

Capital Gains Tax Valuation report is used to help identify the capital increase or decrease of your property asset. A valuation can be conducted when a capital gains tax event occurs or you may choose to have a retrospective CGT valuation when you decide to sell the property.

02.

The Capital Gains discount for foreign or temporary residents was abolished from 8th May, 2012. Those impacted must now meet eligibility conditions to apply for the CGT discount. Therefore a valuation for GST purposes as at this date confirms the value portion for which the CGT discount still applies to the benefit of the investor. In October 2019 the government further announced that Australia’s foreign resident capital gains tax (CGT) regime will be extended to deny foreign and temporary tax residents access to the CGT main residence exemption (some exemptions do apply and individual advice is necessary here).

03.

Historic or retrospective valuations are often required, usually for Taxation purposes. These are typically to create a partition of value between owner occupancy and investment as of a certain date to assist in the calculation of Capital Gains Tax.

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