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Writer's pictureShayne Dunstan

CGT and Brisbane's Booming Property Market.


Brisbane has become one of Australia’s most dynamic housing markets in 2024, with dwelling values hitting impressive record highs. As of September 30, 2024, the median home value is $881,000 (source: CoreLogic), making it the second-highest capital city median after Sydney and surpassing Melbourne's median earlier this year in January.


This is a promising opportunity for property investors, but it is essential to remain aware of significant capital gains tax (CGT) liabilities. By focusing on accurate CGT valuations, investors can navigate the market effectively and avoid the risks of over and under reporting.

 

Why CGT Valuations Matter

1. Avoid Overpayment: Incorrect valuations can lead to unnecessary tax payments.

2. Compliance: Accurate valuations help property owners meet tax obligations.

3. Financial Planning: CGT valuations inform investment and sales strategies.

 

The Role of Property Valuers

1. Expertise: Valuers provide specialized knowledge of market conditions.

2. Defensible Valuations: Valuers deliver thorough analysis and comparable sales data.

3. Market Insights: Valuers assist property owners in navigating complex tax implications.

 

Key Considerations for CGT Valuations

1. Date of Acquisition: Establishing the original purchase price.

2. Changes in Use: Identifying potential impacts on CGT liabilities.

3. Improvements: Accounting for renovations and upgrades.

 

It is advisable to seek guidance from both a tax professional and a valuer in order to determine the most suitable approach for your specific situation. Our experts at DELPHi are here to help. Contact us at any of our offices:


Melbourne:


Queensland:


Perth:


Visit our website at www.delphiproperty.com.au for more information and to schedule a consultation.

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