Valuation of property as at a specific date where use of property may have changed. For example, house use changes from owner-occupier to rental property or vice versa. Retrospective valuations for Capital Gains Tax purposes are common.
Larger land holdings over 2ha are subject to CGT even when used as the principal place of residence. On the face of it, owners of these larger land holdings could be exposed to significant CGT. HOWEVER up to 2ha of the land holding can be selected as the curtilage (homestead) area, and is exempt from CGT. FURTHER, the curtilage area can be worth a disproportionate amount of the property’s overall value, and this can save significant CGT when assessed by an experienced valuer.
Leeson Valuers and Jock Wigan have saved clients significant sums in CGT upon the sale of rural residential properties with curtilage assessments. One vendor saved over $100,000 in CGT on the sale of their 4ha property following our curtilage valuation assessment.
This means that you get the 'real' valuation of your real estate with no hidden agendas.
