CGT timeline check
Check your holding period and whether your situation commonly calls for a retrospective valuation.
- Holding period
- 12 month discount test
- Retrospective valuation
General information, not tax advice. CGT outcomes depend on your full circumstances; confirm treatment with your accountant or the ATO.
Capital gains tax turns on dates and values. Individuals who hold an asset for more than twelve months are generally eligible for the 50 per cent CGT discount. Inherited property is typically assessed from its market value at the date of death, and a home that starts earning income is generally treated as acquired at market value on the day it first produced income. Each of those values usually has to be established by a retrospective valuation.