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Taxation: Capital Gains Tax, GST, Etc.

For the purposes of margin scheme, an approved valuation is a valuation that meets the requirements contained in the Margin Scheme Valuation Requirements Determinations MSV 2005/3 and MSV 2009/1


The determinations contain three possible ways you can value your property:

  • an approved valuation

  • a valuation based on the payment the seller receives under a contract of sale if the contract was entered into before the valuation date

  • a valuation prepared by a state or territory department for rating or taxing purposes.


If you choose to use an approved valuation, it must meet the following standards:

  • It must be undertaken by a professional valuer.

  • It must provide the market value of the property as at the valuation date.

  • It must include a signed certificate.

  • It must be provided as a written report.


Generally, the valuation date for the property is either of the following:

  • 1 July 2000 - if you held or owned the property before 1 July 2000 and were registered (or required to be registered) for the GST at that date.

  • The date you were registered (or required to be registered) for GST, if you held or owned the property before 1 July 2000 and were not registered (or required to be registered) until after that date.


Even though you must value a property as it was at the valuation date, you don't have to undertake the valuation process on that date.


McLean Gladstone has undertaken numerous valuations for these purposes since July 2000

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