Hi all,
I'm converting a PPOR to IP and I'm comfortable with structure of loan etc. What I'd like to know is whether or not I need a valuation for the purposes of calculating the capital gains tax later on if/when I sell.
As I understand it, the capital gains will be assessed based on the increase between the time I convert the property to an IP, but can I use real estate appraisals for this purpose? OR do I need one from a licensed valuer?
Thanks in advance, Richard
I'm converting a PPOR to IP and I'm comfortable with structure of loan etc. What I'd like to know is whether or not I need a valuation for the purposes of calculating the capital gains tax later on if/when I sell.
As I understand it, the capital gains will be assessed based on the increase between the time I convert the property to an IP, but can I use real estate appraisals for this purpose? OR do I need one from a licensed valuer?
Thanks in advance, Richard