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Degraves Street Melbourne

Valuation Services: EXPERT CAPITAL GAINS TAX - CGT VALUATION REPORTS
VIC | QLD | WA

  • What is Plant and Machinery?
    The term “Plant and Machinery” is used to describe the tangible assets that a buisness or individual owns. They include everything from the furniture in the office to the trucks, mobile equipment and machinery in your home or business, whether it be a factory, workshop, school, home etc.
  • What is an Independent Property Valuer?
    An Independent Property Valuer or sworn valuer is a registered and trusted practitioner, Endorsed by the Australian Property Institute (API). We are respected independent real estate specialists who, by education, training and rigorous tests are deemed accredited and qualified to provide an impartial professional report on the value of real property. In Australia, we are called Certified Practising Valuers (CPV). Preparing a valuation is hard work, involving the research and examination of all pertinent data and a Valuer's specific expertise, knowledge and capacity to make a reasonable and supportable opinion of value. A Valuer's client list can vary from your average first-time property investor to overseas investors, farmers, hobby farmers, hotel and pub owners, Owners Corporations, insurance brokers, finance brokers, solicitors, banks and mining companies to name a few. Certified Practising Valuers have an essential role to play in the ever prevailing Australian Economy. We quietly practise our craft objectively, in an independent manner, mitigating risks for our clients. The result can be a much better understanding of their portfolio or their next business decision. CONTACT a Delphi Independent Property Valuer for more info.
  • Why choose and pick a Valuer?
    Don't believe everything you see and hear. Professional-quality comprehensive valuations can't be done in 10 minutes or as a desktop assessment. A good Valuer will spend time on your property and most importantly be able to talk to you and answer any questions that you may have about the process. Like any other profession, you get what you pay for. CONTACT a Delphi Independent Property Valuer for more info.
  • Why choose a Certified Practising Valuer?
    API accredited Certified Practising Valuers provide exceptional valuation expertise as they earn their qualification only after completing a rigorous course structure and peer-evaluation process that requires years of study, experience, dedication and commitment. AAPI accredited valuers follow both the professional standards set forth by the API’s Code of Ethics and Rules of Conduct to provide a credible, objective opinion of value. Valuers are bound to openness and transparency, expert technicians in their field, delivering credible and high-quality reports.
  • What is a Building Insurance Valuation Report? Why is it important?
    Insurance is about mitigating risks, providing protection against a possible eventuality. The task of a Certified Practising Valuer, specialising in the field of Insurance Valuations, or Insurance Replacement Costs is to provide advice on the correct insurance level. Replacement Value - Where property is lost or destroyed, the rebuilding or replacement of the property is to provide similar functionality in a condition equal to, but not better or more extensive than its current state when new. In other words, the current price or cost of a similar asset offering equivalent utility, built to modern idiom, conforming to regulations and by-laws which may have evolved since the original building construction date. A specialist insurance valuer at DELPHI can provide you with an insurance valuation report and advise you on the correct level of Insurance Value. CONTACT a Delphi Independent Property Valuer for more info.
  • Is there an Online Building Insurance Calculator?
    Yes, there are quite a few. Most insurance firms are giving their clients access to free online insurance calculators. These type of online tools use a combination of general property and building information which may correspond to your home or building, as well as requiring specific measurements of areas around your premise, topography and some environmental factors. A Certified Practising Valuer, Specialising in Insurance Valuations will eliminate any guesswork, give you peace of mind and mitigate risks associated with using online insurance calculators. The Building Insurance Replacement report from a registered and accredited Insurance Valuer that is a member of the API is objective, professional and precise. CONTACT a Delphi Independent Property Valuer for more info.
  • Isn't it better to be overinsured than underinsured?
    No. It is not better to be over-insured, because in the event of a total loss. Your insurer will likely replace your building to a modern idiom, i.e. new for old, with a similar standard of fixtures. At Delphi, we assess each property to market, based on the most up to date industry stats and numbers. In a nutshell, an accurate insurance valuation by a competent building insurance valuer will save you from paying higher premiums on your property, saving you money in the long run. On the flipside, if your building insurance amount is feeble, you will be insufficiently insured and risk not having enough funds for reconstruction in the event of a total loss. CONTACT a Delphi Independent Property Valuer for more info.
  • What is the meaning of life?
    No one really knows what that is. If you search google, you'll find a plethora of answers and even more questions. All we know is that, biologically, it is far easier to smile than frown and droop. You see, smiling requires a lot less muscle. :P
  • What does Insolvency mean?
    Insolvency is a stage of financial trouble an entity encounters and is unable to reconcile debts. The pressure may be unrelenting which can lead to legal proceedings and actions against the insolvent. Assets may need to be liquidated to resolve outstanding accounts.

Capital Gains Tax (CGT) is a tax you pay to the government when there is a capital gain or appreciation in the value of your asset.

When it comes to selling properties such as investment properties, holiday homes, and rental properties, Capital Gains Tax (CGT) is something that should be on your radar. If you do end up selling a property, you might be obligated to pay CGT on any capital gain from the sale. It's always best to consult with a tax professional to ensure you know all CGT rules and requirements.

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The amount of CGT payable is calculated based on the difference between the cost base of a property and its sale price. The cost base includes the original purchase price and any other costs associated with buying and owning the property, such as stamp duty, legal fees, and any improvements made to the property. The sale price is the total amount received minus any costs associated with the sale, such as real estate agent fees.

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If you have owned the property for over 12 months, you may be eligible for a 50% CGT discount. This means that only half of the capital gain will be subject to tax. However, if you have owned the property for less than 12 months, you will not be eligible for the discount, and the full amount of the Capital Gain will be subject to tax.

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In addition to the CGT discount, some other concessions and exemptions may be available, depending on the circumstances of the sale. For example, you were selling a property that was your primary residence. You may be eligible for the principal place of residence exemption, meaning no CGT will be payable on the sale.

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It's essential to keep a close eye on the cost base of your property and any expenses you've incurred during your ownership. This will help you accurately calculate any potential capital gain or loss when you sell. Your accountants and financial advisors will appreciate you taking the time to keep detailed records. And when the time comes to get an independent property valuation, we're here to help. Our team of expert valuers will provide you with a fair, accurate and equitable valuation report, giving you peace of mind and confidence in your property's value.

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"Why are Independent Property Valuers for CGT purposes important?" you ask. The answer is quite straightforward. Our Retrospective Market Valuation reports play a crucial role in determining the amount of Capital Gains Tax that needs to be paid because it forms the predominant component of the original cost base.

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What are Retrospective Market Valuation reports? In a nutshell, it is a Valuation Report for CGT purposes where a Valuer is required to investigate historical markets and sales to determine the Market Value of a Property at a point in the past. These Retrospective Market Valuation reports are necessary when a primary residence evolves into a rental or investment property.

 

In other words, when a decision is made to turn directly or indirectly a primary residence into a rental or investment property, thereby triggering the Capital Gains Tax. This is why choosing a Valuer with the right experience is critical. 

"Capital Gains Tax (CGT) is the tax you pay when you make a profit from selling or otherwise disposing of certain capital gains tax assets."

The Australian Tax Office


Your Market Valuation for CGT purposes must be performed by a qualified, Certified Practising Valuer (CPV) because taxpayers who present to the ATO unapproved appraisals– or get advice from people without adequate qualifications – risk incorrectly reporting their tax and may be liable to pay penalties, and just as bad, become buried in paperwork, who would want that?
 

If you're in need of a valuation for Capital Gains Tax purposes, our team of local Valuers are here to help. We're experts in the field and can provide current market valuations or Retrospective Market Valuations. It's always a good idea to speak to your accountant and financial advisors before making any decisions, and we're more than happy to liaise with them on your behalf.

 

So why not get in touch with us today to discuss your valuation requirements?​


Talk to us about your valuation requirements. We are suitably qualified and can also liaise with your accountant to undertake current market valuations or Retrospective Market Valuations for Capital Gains Tax purposes. Contact either our Melbourne or Brisbane-based location to find out more. 

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