Valuer, quantity surveyor, depreciation...?

howdy all,

So we are about to move in to our former IP. For capital gain evaluation, should we get someone in for a valuation, or is the bank valuation that was done a couple of weeks ago adequate? And if we should get someone in, who is it?

Also, recommendations for a Newcastle person that does above would be good!

Cheers,
Inertia
- who has dramas wrt the above to write about when there is time...

 

A valuer and a quantity surveyor are two different things.

If the bank did a val a few weeks ago, I can't see why that would not be all you need. The problem might be getting hold of it from the bank. If they won't give it to you, ask them who did the val and see if they will give you a copy for a nominal amount.

Scott

 

For capital gains tax the value when you move in is irrelevant

The gains is calculated on a days basis when you sell it. This is done once the residence is sold.

118-185 income tax assessment act 97