All Topics / General Property / Property market value as cost base for CGT

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  • Profile photo of www_ericwww_eric
    Participant
    @www_eric
    Join Date: 2009
    Post Count: 25
    February 17, 2015 - 4:01 pm

    Hi All,

    A friend recommends me to do a property valuation so it can be a cost base when calculating CGT in the future.

    2 questions

    1. Where can I get a valuation? From property agent, bank or third party company? If from third party company, can anyone suggest a company? Is ATO approved?
    2. The house I purchased and lived there 2 years after I rented it out in year 2010. Can I still do valuation back to the date of lease?
    If the answer is yes, back to the question 1, who I should contact to get a valuation?

    Will be really appreciated if anyone can point me the direction.

    Thank you very much!

    Eric

    • This topic was modified 9 years, 8 months ago by Profile photo of www_eric www_eric.
    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404
    February 25, 2015 - 4:57 pm

    Do you have another home? If not you can use the 6 year rule in which case you won’t need to pay CGT if you rent it for up to 6 yrs.

    If you do rent it for longer (or you are claiming another house as your PPOR I think it just goes pro rata.

    I forget which is pro rate PPOR then IP or IP then PPOR?
    Maybe someone else can clarify that.

Viewing 2 posts - 1 through 2 (of 2 total)

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