Capital Gains Tax / Retrospective

McLean Gladstone provides specialised retrospective property valuation services across South Australia, crucial for navigating complex financial and legal matters such as tax implications and matrimonial purposes. As an independent property valuer and certified property valuer, we excel at determining the valuation of property at a specific past date, no matter how far back, ensuring accuracy and compliance for your unique situation.
 

What is a Retrospective Property Valuation? A retrospective property valuation, also known as a backdated property valuation or historical valuation, is an assessment of an asset's value at a specific point in time in the past. Unlike a current market valuation, which reflects today's value, a retrospective valuation meticulously reconstructs the market conditions and property attributes as they existed on a historical date. This is vital for establishing a precise and defensible valuation on property for various legal and financial requirements.
 

Key Reasons for Retrospective Valuations:

• Capital Gains Tax (CGT) Valuations: When you sell a property and realise a profit, capital gains tax may apply. To accurately calculate your CGT property valuation liability, you often need to establish the valuation of property for CGT purposes on the date it was acquired. This is particularly relevant if you are:

  • Vacating a Primary Residence & Renting It to Tenants: The property becomes subject to CGT from the date it ceased being your primary residence. A retrospective valuation can help reduce your future tax liability by establishing its value at that point.

  • Moving Into a Property After Tenants Have Vacated: If an investment property becomes your primary residence, a retrospective valuation to the date you moved in is required to state the fair market value to the Australian Tax Office.

  • Non-Resident CGT Changes: Recent changes have removed the 50% CGT discount for non-resident individuals holding Australian property. A retrospective valuation to prior to 8 May 2012 can help claim the CGT discount for gains accrued before this date. Our property valuation for capital gains tax purposes reports are designed to provide the objective and supportable data required by the ATO.

• Family Law & Property Settlement Valuations: For divorce property valuation and property settlement valuation, it is crucial to ensure a fair and just division of assets. Often, the value of investment properties or other assets must be identified on the date of official separation for distribution purposes. Our family law property valuation reports are detailed and unbiased, allowing all parties to mutually agree that the valuation for divorce proceedings is correct. We understand the sensitive nature of these matters and provide reports that instil transparency and fairness. Our house valuation for divorce settlement and home valuation for divorce services are tailored to meet the rigorous standards of the Family Court, whether for amicable mediations (often using shorter reports) or court hearings (requiring comprehensive reports). We can also act as a single expert witness valuer, providing an objective and unbiased assessment to save time and money in court proceedings.

• Deceased Estate Valuations: While your request focuses on tax and matrimonial, it's important to note that deceased estate valuations are always retrospective, establishing the property's value true to the date of death for fair division in accordance with the will.
   

Our Meticulous Retrospective Valuation Process: To perform a retrospective valuation, our experienced certified practising valuers meticulously examine:

• The property's size, location (property valuation Adelaide, residential property valuation Adelaide), general condition, special features, and finishings, all accurate to the specified historical date.

• Any relevant historical information or events involving the property.

• Historical sales data for comparable properties over the specified period, with consideration given to relevant market conditions at that time. Our valuers combine these factors with market data from the past to provide an accurate valuation of property true to the specific date our clients need. Our expertise extends beyond just house valuation or residential properties to include commercial property valuation and industrial properties for retrospective purposes.
   

Why Choose McLean Gladstone for Retrospective Valuations? As a leading property valuer in Adelaide and throughout South Australia, McLean Gladstone's licensed property valuers are highly qualified, with extensive experience as Certified Practising Valuers (CPV), accredited by the Australian Property Institute (API), and registered with the Royal Institution of Chartered Surveyors (RICS). We provide retrospective valuation reports at affordable prices with quick delivery times, ensuring you receive the most accurate valuation for CGT purposes or valuation for divorce proceedings. Our local property valuer team has access to comprehensive property market databases, allowing us to find comparable sales data for both current and historical needs.
 

Whether you need a property valuation for separation, a commercial valuation SA for tax planning, or a house valuation for property settlement, McLean Gladstone is your trusted real estate property valuer. Contact our registered property valuer team today for expert advice and a professional valuation of property South Australia that supports your legal and financial needs.