When do I need a retrospective valuation in Queensland?

You need a retrospective valuation when your home becomes an investment property, when you inherit a property, after major renovations, or when completing CGT-related events such as transfers between related parties or SMSF compliance.

Is a retrospective valuation required for Capital Gains Tax?

Yes. The ATO requires retrospective valuations for accurate CGT calculations when a past market value is needed. A qualified and independent property valuer must complete the assessment to ensure compliance.

Who should complete a retrospective valuation in Queensland?

Retrospective valuations must be completed by a qualified Certified Practising Valuer (CPV). The report must be independent, evidence-based, and supported by comparable sales to satisfy ATO requirements.

Retrospective Valuations Queensland – When You Need a CGT Property Valuation

Shayne Dunstan
4 days ago
2 min read

Updated: 3 days ago

Queensland’s property market moves quickly, and with it comes a fair amount of tax complexity—especially when it’s time to calculate Capital Gains Tax (CGT). One area many property owners overlook is the need for a retrospective valuation.

A retrospective valuation simply determines what your property was worth at a specific point in the past. And when certain “CGT events” occur, the Australian Taxation Office (ATO) expects this figure to come from a qualified and independent valuer.

Below are the most common situations in Queensland where a retrospective valuation becomes essential.

Investment Property, Capital Gains Tax, CGT, Property Valuation, — Investment Property - Spring Mountain QLD

1. When Your Home Becomes an Investment Property

If you move out of your principal place of residence (PPOR) and start renting it out, you’re effectively creating a CGT event. A retrospective valuation establishes the market value on the day the property changed status, which becomes the new cost base for future CGT. Without it, your accountant is working with guesswork—and the ATO doesn’t accept that.

2. Inherited Properties (Date-of-Death Valuations)

When a property is inherited, the beneficiary needs to know the market value on the date the previous owner passed away. This valuation forms the cost base for any future sale and ensures the estate and beneficiaries stay compliant and avoid unnecessary tax complications.

3. Major Renovations and Capital Improvements

Significant improvements—extensions, major refurbishments, structural upgrades—can complicate CGT calculations, especially if older records are missing or incomplete. A retrospective valuation helps break down the property’s value before and after improvements so your accountant can properly allocate the cost base.

4. Other CGT-Related Events

Retrospective valuations are also frequently required for:

Family settlements
Transfers between related parties
SMSF compliance
Asset restructuring
Historical valuations needed for amended tax returns

If the value at a past date is needed, the safest approach is a formal retrospective valuation.

Why Use a Qualified Queensland Valuer?

The ATO has clear expectations around how valuations must be conducted. A compliant retrospective valuation must be: ✔ Independent ✔ Completed by a qualified property valuer (CPV) ✔ Supported by comparable sales evidence ✔ Detailed enough for your accountant to rely on

Our Queensland team works closely with accountants and property owners to produce retrospective valuation reports that stand up to ATO scrutiny and remove the uncertainty from CGT assessments.