I have read an guide from ATO website http://www.ato.gov.au/corporate/content.asp?doc=/content/86198.htm
According to ATO case study in the link above, we have to allocate the cost base when disposing the one of subdivided property (house) based on real estate agent's valuation. I wonder if real estate has authorised to valuate the property? what the evident document should we show ATO when they audit the allocation method?
TA
According to ATO case study in the link above, we have to allocate the cost base when disposing the one of subdivided property (house) based on real estate agent's valuation. I wonder if real estate has authorised to valuate the property? what the evident document should we show ATO when they audit the allocation method?
TA