Tax Depreciation Schedules, Capital Gains Tax and Stamp Duty Valuation, Insurance Valuation

Tax Depreciation Schedules, Capital Gains Tax and Stamp Duty Valuation, Insurance Valuation from Herron Todd White

By: Herron Todd White  20-Jun-2012
Keywords: Insurance, Property, Tax

Herron Todd White provides specialist advice to property investors, building owners, real estate agents and property managers in respect of depreciation allowances. Tax depreciation schedules are an essential tool for all property investors. Depreciation is an important part of maximising your investment returns from an income generating property.  The Income Tax Assessment Act 1997 allows owners of investment properties to claim annual deductions for depreciation on: The main building and structural improvements. Plant and equipment items  (light fittings, floor coverings, kitchen appliances and so on)

Capital Gains Tax is the tax payable on capital gains from the sale of an  investment property acquired after September 19, 1985. You may be liable for CGT if your capital gains exceed your losses. Gifting a property also triggers a CGT event. Determining Market Value of the property is essential in calculating CGT. Professionally qualified valuers can provide this market valuation.  Herron Todd White is ideally placed to undertake valuations for Capital Gains Tax Purposes whether it is a current Market Valuation required or a retrospective Market Valuation.

Stamp duty is the tax payable on the transfer of an asset, such as real estate, between two parties. A Stamp Duty Valuation is required by the Office of State Revenue, when the property was not sold on the open market and where there is a relationship between the two parties (i.e. sale between family members) and the sale is not deemed to be within an arms length transaction. 

Only professionally qualified valuers can provide this Market Valuation, which will provide the correct figure on which the duty will be assessed. 

Stamp duty valuations are also required where property is being transferred into a superannuation fund and various trusts and entities. 

Herron Todd White is ideally placed to undertake valuations for Stamp Duty Purposes and meet the requirements of the Office of State Revenue. We provide stamp duty valuations for private customers, solicitors, conveyancers, business and corporate entities as requested.

Keywords: Capital Gains, Capital Gains Tax, Capital Gains Tax Valuation, Commercial, Commercial Valuation, Depreciation, Depreciation Schedule, Insurance, Insurance Replacement Valuation, Insurance Valuation, Investment Property, Property, Property Inspection Brokers, Property Value, Quantity Surveyors, Real Estate Property, Registered Tax Agents, Replacement Estimate, Sinking Funds, Stamp Duty, Stamp Duty Valuation, Tax, Tax Depreciation, Tax Depreciation Capital Gains Tax, Tax Depreciation Report, Tax Depreciation Schedule, Value, Valuer,

Contact Herron Todd White

Email

Print this page

Other products and services from Herron Todd White

Insurance Replacement from Herron Todd White thumbnail
20-Jun-2012

Insurance Replacement

the preparation of a Replacement Cost Assessment is a service that can best be provided by a Quantity Surveyor, it is setting out the estimated cost of Reinstatement or Replacement should a building be irreparably damaged during a period of insurance.


Property Advisory from Herron Todd White thumbnail
20-Jun-2012

Property Advisory

Herron Todd White began operations in 1968 and is today Australia's largest Independent Property Advisory group with 60 offices throughout Australia.


Property Advisory from Herron Todd White thumbnail
20-Jun-2012

Property Advisory

Australia's largest Independent Property Advisory group