CGT fundamentals: events, dates and cost base.

Capital gains tax on property reduces to three questions. What event happened, on what date, and what was the cost base. Get those right and the calculation follows; get the date wrong and nothing downstream can be salvaged.

Quick answer

Every CGT position on property depends on three things in sequence: the CGT event, the effective date that event fixes, and the cost base at that date. The event is determined by what happened; the date follows from the event, not from convenience; and the cost base is either what was paid or, where the law substitutes market value, what a valuation establishes. A correct valuation at the wrong date is worthless.

In this cluster

4 guides, in the order they apply.

Read them in that order. The events guide tells you which date applies; the cost base guide tells you what the date is used for; the 1985 guide only matters if the property predates the regime.

Start here CGT events and valuation dates Which event requires which effective date, in one reference table. Read the guide Then The five elements of a cost base What can and cannot be added under ITAA 1997 s110-25, and where a valuation fits. Read the guide If acquired before 1985 Pre-CGT property and 1985 When a pre-CGT asset stays exempt, when it stops, and why 1985 valuations still get commissioned. Read the guide Reference CGT valuation glossary Cost base, market value substitution, s118-192, CPV — 32 terms defined. Read the guide

The service behind this

When you need the report, not the reading.

Fixed fees from $440 incl. GST for standard metropolitan residential. Quotes returned within 2 business hours, reports in 5 business days of inspection.

Retrospective Valuations

Current Market Valuations

Fees and what moves a quote

Sources

Market valuation for tax purposes — Australian Taxation Office
Income Tax Assessment Act 1997 — Consolidated Act, AustLII
Australian Property Institute — Professional Practice Standards and the CPV designation

General information about how valuations are used for tax purposes. Not tax advice. Your accountant or tax agent should confirm which provision applies to your circumstances.

Written and reviewed by

Jarrad Khoury

Head of Valuations at Asset Valuations Group, where he leads the Business Valuation Services division. Over 10 years in property and business valuation. Registered Valuer in Queensland (Not Limited), Licensed Valuer in Western Australia (Not Limited), CPV through the Australian Property Institute (Not Limited), CPV and CBV through the Australian Valuers Institute, and Registered Business Valuer through the AIBB.

Last reviewed 15 September 2026 · About the practice · Editorial policy

Fixed fees from $440 incl. GST. Quotes returned within 2 business hours, reports in 5 business days.