CGT Determination Number 10
TD 10
Capital Gains: What are acceptable valuations for CGT purposes?
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FOI status:
may be releasedFOI number: I 10189841. Where the "market value" of an asset needs to be determined, taxpayers can choose to :
- (i)
- obtain a detailed valuation from a qualified valuer; or,
- (ii)
- compute their own valuation based on reasonably objective and supportable data.
Example:
A taxpayer owns a unit in a block of 10 units and needs to obtain its market value for CGT purposes.
The taxpayer chooses not to approach a qualified valuer in this case.
A valuation based on contemporaneous sales of similar units in that block of units would be acceptable. Note: The ATO may challenge valuations where appropriate.
Commissioner of Taxation
10 September 1991
References
ATO references:
NO CGT Cell 6
Subject References:
Market value
Valuations
Date: | Version: | Change: | |
You are here | 10 September 1991 | Original ruling | |
3 November 2010 | Withdrawn |