CGT Determination Number 10

TD 10

Capital Gains: What are acceptable valuations for CGT purposes?

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FOI status:

1. 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