MJM Valuers

Capital gains tax:

A capital gains tax valuation is required for taxation purposes by investors who sell a property that was purchased as an investment post September 20, 1985.

Many rural lifestyle purchases are unaware that properties larger than 2 ha attract capital gains tax when sold, another trap is when owners are transferred overseas or interstate for a period longer than 12 months and decide to lease their home rather than sell, they may become subject to capital gains tax.

Capital gains tax is applicable to all investment real estate and other investments classes purchased or acquired post September 20, 1985. The tax is charged when you sell an asset that has increased in value from the time of its acquisition. Conversely if the value of the asset has decreased from the time you purchased to the time you sold the investment is considered a capital loss. Investors need to determine the gain/loss over the holding period to determine the capital gains implications. Our capital gains tax valuation report will identify the capital increase or decrease of your property asset. The valuation can be current or retrospective, with current valuations used to determine the value of assets in the current market and retrospective valuation used to determine the value at a previous point in time i.e. the date of purchase.

Stamp duty/related party valuations/Land tax:

Stamp duty is the name of the tax payable upon transfer of ownership of a real property asset between two or more parties. Stamp duty valuation is required when transferring ownership between related parties or where property is being transferred into a superannuation fund or various other trust and legal entities. The stamp duty tax is then payable based on the valuation report provided by a certified practising valuer. Stamp duty valuation reports contain information on the physical attributes the property current market sales evidence and professional interpretation analysis of that evidence. When there is a transfer of ownership in a property the office of State revenue requires a stamp valuation report which must be conducted by a certified practising valuer.

MJM valuer's complete tax valuations daily on the advice you received from the Australian tax office, accountants and financial plans. A professionally authored and researched valuation can return 10 times its cost in tax savings.