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Treatment of valuation undertaken for CGT purposes

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Newbie

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My friend had a principal place of residence they later used as an investment property after purchasing a new home.

The investment property was sold last year and a valuation was obtained for CGT purposes to assist with determining the first element of the cost base.

Can the cost of this valuation:
- form part of the cost base of the property sold; or

- be deducted as a cost of managing their tax affairs?
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Taxicorn

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Taxicorn

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Newbie

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Thank you, I really appreciate you coming back to me so quickly.