The day a home first earned rent, its value that day became your cost base. In Torquay that day usually sits behind a run of years in which the property was being lived in and worked on, and the figure has to describe it as it was then
Cannot put your finger on the day it started earning? A lease, a bond lodgement or the first rent statement usually does it.
The day the first tenant moved in is the day the figure was set. Whatever has been done to the property since sits outside that figure, which is precisely why it has to be established rather than estimated backwards from today.
Half of Torquay's families have children at home and the households here are fuller than the state's, so a property that later earned rent had usually been adapted around a family for a long time beforehand. The figure belongs to the day the letting began, and to the property that existed on it.
Letting a room or a self-contained part of the property counts too, and it fixes a date just as surely. The valuation covers the whole property and your accountant apportions from it.
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The valuer works to the sales evidence that existed on that date, not to what the property is worth now.
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It provides an evidenced market value at the date a tax rule sets or resets the property's value for cost base purposes. Your accountant then applies that value with the other allowable cost base elements relevant to your circumstances.
The 2026-27 CGT reforms use 1 July 2027 as the transition point for gains accruing under the new indexation arrangements. If the transitional rules apply to your asset, a contemporaneous market valuation can evidence the value used for that date. Confirm eligibility with your tax adviser.
Yes. A retrospective report can reconstruct market value at a past date using period sales and available property evidence. Ordering earlier can make records easier to obtain, but a later report is still possible where suitable evidence exists.
Yes. Where the home first used to produce income rule applies, the required market value may be the value on the first income-producing date. Ask your accountant to confirm that the rule applies and provide that exact date in the order.
Yes, the report can establish market value for an instructed date where a tax rule substitutes market value for the amount paid. The applicable date and treatment vary, so obtain advice before choosing the valuation instruction.
The report values the property at the instructed date. It does not replace your records of stamp duty, legal fees, capital improvements, selling costs or other cost base elements. Give those records to your accountant for the full calculation.
A valuation can evidence market value at the relevant transition date where the new rules bring later gains into the CGT calculation. The treatment of a specific pre-1985 asset can be complex, so confirm the instruction and eligibility with your tax adviser.
A valuation can support a market-based allocation between lots or interests when that is the agreed scope. Tell us about the subdivision, relevant dates and titles so the valuer can confirm whether a standard report or a tailored instruction is required.
The report identifies the asset and valuation date, explains the basis and methodology, analyses relevant comparable sales and records the valuer's signed conclusion. It supports the market value input but does not guarantee a particular ATO outcome.
Provide the exact valuation date and reason, ownership details and any plans, leases, photos or renovation records relevant to the property's condition at that time. Your accountant's written instruction is especially helpful for unusual cost base events.
Signed, dated and evidenced, so nobody is reconstructing it from memory later.