Announcements
What's the right super fund for you? Although super may not be on the top of your list now, keeping track of your super can help maximise your savings for when you retire. Try out the new YourSuper comparison tool and choose a super fund that meets your needs. Still got questions about super? Ask the Community

ATO Community

Treatment of valuation undertaken for CGT purposes

This post is archived and may not be up-to-date.

Newbie

Views 939

Replies 2

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?
1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Taxicorn

Replies 1

2 REPLIES 2

Most helpful response

Taxicorn

Replies 1

Newbie

Replies 0

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