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Our Valuation Services Include CGT, Stamp Duty & More
In addition to valuing properties in Brisbane and the Sunshine Coast, Peterson Property Valuations also offers valuations for stamp duty, capital gains tax and superannuation funds.
Call us today for more information about our valuations and a quotation.
Stamp Duty Property Valuations
This tax is placed on asset and property acquisitions. The current market value regulates the amount of stamp duty payable. Therefore, more expensive properties accrue a higher stamp duty levy.
Stamp duty valuations are required by the Queensland Commissioner where a property, or part interest in a property, is transferred to a related party.
The property may be sold below market value—a property valuation determines the fair market value and is a requirement by the Commissioner of State Revenue for Stamp Duty.
All of our Stamp Duty valuation fully comply with the Commissioner’s requirements.
Capital Gains Tax Property Valuations
Capital gains tax—or CGT—is a payable tax from the sale, transferal or gifting of an investment property.
Capital gains tax valuations are usually undertaken when an owner leaves their sole place of residence and rents the property to a tenant.
This establishes the value of the property at the time it ceased to be a sole place of residence. If the owner has moved back into the property, an assessment will establish the value at that time—from which it ceases to attract capital gains tax.
These valuations are often retrospective. For example, the valuer might be asked to value the property when the owner left on say the 3rd June 2010.
This requires research of sales in the period just prior to the date of valuation.
Superannuation Fund Property Valuations
Self-managed superannuation funds—or SMSF—should use market values as a base for their financial statements. We recommend having your SMSF investments valued at least every three years.
SMSF asset and property valuations are required for:
- preparing the financial accounts and statements of the fund
- acquiring assets between SMSFs and related parties
- investments made and maintained on an arm's-length basis
- disposing of certain collectables and personal use assets to a related party of the fund
- determining the market value of an SMSF's in-house assets as a percentage of all assets in the fund
- determining the value of assets that support a member's super pension
- determining the value of existing retirement income streams at 1 July 2017 as they will be counted towards the transfer balance cap
- determining the value of new retirement income streams on or after 1 July 2017, when they will be counted towards the transfer balance cap
- determining the market value of assets that are eligible for transitional capital gains tax (CGT) relief in the 2016–17 income year
- determining the market value of assets supporting members' retirement phase and accumulation accounts for the purposes of calculating the members' total superannuation balances.
Please contact our team to arrange for a written quote via email, usually within 24 hours.
Property Valuations for Business Assets
Companies and partnerships and other entities often own real property. This can extend to a number of properties of various types, for example, industrial, commercial, single unit and multi unit residential.
We offer a discount on our fees if valuations are required on multiple properties!
Aged Care Property Valuations
We have over 20 years experience valuing Aged Care assets across Queensland and New South Wales. We also value separate Independent Living Units for Estates in Aged Care Centres.
Individual villas are often held under Lease or Licence. Our Valuers have experience in this type of assessment. These may need to be valued as part of a Deceased Estate or to determine a Sell Back Price to the Facility owners.
Factors such as location in regard to the Facility’s recreation halls/pools or views and villa size often cause variation in individual value.
Valuations for Building Replacement Insurance
These valuations are vital to establish the correct value of property insured in a Community Title Scheme.
Our Valuers have the skill and experience to provide high quality valuations for Building Replacement Insurance.
These are required to be obtained by the Managers of Community Title Schemes under Queensland Legislation. It is important that these valuations are accurate to insure:
- The property is fully insured in the case of a full or partial loss (fire, storm etc);
- That the buildings are not over-insured with resulting higher premiums passed on to Lot owners.
Call our Senior Valuer on 0411 514 228 for a quote or to discuss what is required to produce an accurate valuation.
