Loading
This thread is archived and the information may not be up-to-date. You can't reply to this thread.
JohnSs(Initiate)Initiate
22 Feb 2025

I did evaluation of the property for CGT purpose and paid invoice in aug 2024. I did evaluation of the property so that CGT can be calculated later when I sell the property. I haven't sold the property yet and not sure when will sell it. Can I tax deduct the cost of evaluation from my income and in which year? 

106 views
2 replies
Liked by JohnSs
106 views
2 replies

Most helpful response

Most helpful reply

YellowPotato(Taxicorn)Taxicorn
22 Feb 2025

Most likely you add it to the cost base. 2nd element. Your valuation replaces all cost before the valuation date.

All replies

Featured articles

Tax tips for managing your side hustle

22 Apr 2024 · 6 min read time

Tax on gifts and inheritances

15 Apr 2026 · 5 min read time

How much tax should I pay on a second job? Claiming the tax-free threshold

15 Apr 2026 · 4 min read time

Top liked users

  1. Bruce4Tax

    (Taxicorn)

    3260 likes

  2. Taxduck

    (Taxicorn)

    2069 likes

  3. PayrollDeanne

    (Taxicorn)

    816 likes

  4. YellowPotato

    (Taxicorn)

    529 likes

  5. knaresbro

    (Devotee)

    364 likes

Top contributors

  1. Bruce4Tax

    (Taxicorn)

    10399contributions

  2. Taxduck

    (Taxicorn)

    4762contributions

  3. PayrollDeanne

    (Taxicorn)

    2061contributions

  4. YellowPotato

    (Taxicorn)

    1352contributions

  5. YEP

    (Devotee)

    837contributions

Loading
tax deduction of property evaluation cost done for CGT purpose | ATO Community