Capital Gains Tax Valuations
In calculating Capital Gains Tax (CGT), determining market value of the property is essential. Only property valuers can provide this market valuation.
When will you pay CGT?
- Renting out your former principal place of residence will trigger the need to pay CGT, so it is advisable to obtain a market valuation at the time the property is first made available for rent as an investment property.
- Gifting a property also triggers the need to pay CGT.
Capital Gains Valuations
In calculating CGT, determining market value of the property is essential. Only property valuers can provide this market valuation.
When will you pay CGT?
- Renting out your former principal place of residence will trigger the need to pay CGT, so it is advisable to obtain a market valuation at the time the property is first made available for rent as an investment property.
- Gifting a property also triggers the need to pay CGT.
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