When a market valuation is needed for capital gains tax, the most important question is often not “what is it worth?” but “worth at what date?”
The financial year is not the valuation date
The financial year determines when a capital gain or loss is reported. It does not determine the date at which a property must be valued. A valuation for CGT purposes is generally required as at the date of a particular event, and that date may be many years ago.
Situations where a market value may be relevant
Depending on your circumstances and the tax rules that apply, market value at a particular date may be relevant where, for example:
- a property has been inherited;
- a property has been transferred or gifted, including between related parties;
- a home has first been used to produce income; or
- records of the original cost are incomplete and your adviser recommends valuation evidence.
Whether a valuation is needed at all, and at what date, is a tax question. Your accountant or tax adviser is the right person to answer it.
Retrospective valuations
A valuation as at a past date is known as a retrospective valuation. It relies on market evidence from around that date, so its feasibility depends on the evidence available and on what can be established about the property’s condition at the time.
Planning for 2027–28
If you expect to need valuation evidence in the financial year commencing 1 July 2027, confirm the required date with your adviser early and request an appointment. Official ATO guidance is linked in our resources centre.
Discuss your valuation requirements
Speak with our team about your property, the purpose of the valuation and the date at which value is required.
Request a Valuation