M m.sewell 31st May, 2014 #1 Hi guys, I am planning on doing some renovations to my rental property after the tenants lease expires. Should I get a valuation done before reno for capital gains tax purposes?
Hi guys, I am planning on doing some renovations to my rental property after the tenants lease expires. Should I get a valuation done before reno for capital gains tax purposes?
Pins 1st Jun, 2014 #2 From my understanding (via accountant) it's sufficient to get an estimated valuation from an agent to avoid the cost if a valuation
From my understanding (via accountant) it's sufficient to get an estimated valuation from an agent to avoid the cost if a valuation
T Tonibell 3rd Jun, 2014 #3 Why would you need a valuation before a reno for capital gains valuation ? I can't see a scenario where the pre-reno valuation would be used in any calculations.
Why would you need a valuation before a reno for capital gains valuation ? I can't see a scenario where the pre-reno valuation would be used in any calculations.
D.T. 3rd Jun, 2014 #4 What does the reno have to do with capital gains tax? Is the property changing from being an IP to a PPOR or vice versa?
What does the reno have to do with capital gains tax? Is the property changing from being an IP to a PPOR or vice versa?
M mmmggg01 3rd Jun, 2014 #5 I don't think it's needed unless you feel there is a fairly large remaining value left from the old stuff. Once I attended Dym's seminar and she recommended this. It means the valuer will visit your property twice.
I don't think it's needed unless you feel there is a fairly large remaining value left from the old stuff. Once I attended Dym's seminar and she recommended this. It means the valuer will visit your property twice.
