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Once again I'm not the one for the figures, but I would think the lower the val the better. You purchase for $300000 and its now valued at say $500000 your capital gain is $200000 and as you have owned if for over 12 mths it would be less 50% = $100000 and you pay tax on this amount at your...

Not wanting to steal the tread. Would it be worth getting a valuation now before you do the reno so you have a figure to calulate CGT. Brian