My siblings and I have inherited a property from our father. He died on 28 July 2023 and we have not yet sold his house, but plan to do so soon. We know that we will pay no CGT if we sell before 28 July 2025, and that if we sell after 28 July 2025, we pay CGT on the increase in value of the property from the date of death (28 July 2025) to the date of sale.
What we want to know is what kind of documentation do we need to evidence the market value of the property at the date of death? Is an appraisal from a real estate agent required, or do we need a valuation report from a qualified valuer?
Thanks!
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1,492 views
1 replies