Retrospective Valuations

A retrospective valuation is an assessment of what a property was worth on a date in the past. PWE Property Consultants & Valuers prepares retrospective valuations across the Perth metropolitan area for property owners, accountants, solicitors and executors. Every report is prepared by a licensed valuer with over 20 years’ experience.

When do you need a retrospective valuation?

• Your home became a rental. Under Australian Taxation Office (ATO) rules, if you first rented out your home after 20 August 1996, you are generally treated as having acquired it at its market value on the day it first produced income. The ATO says you must get a market valuation at that time. If you did not, a retrospective valuation fills the gap.
• Inherited property. The market value on the date of death is often the starting point for capital gains tax. See deceased estate valuations.
• A past transfer or gift. Where property changed hands between family members or related entities, the market value at the date of transfer may be needed for capital gains tax or stamp duty.
• Changes in use or ownership. A property moving in or out of a company, trust or super fund, or changing from private to business use, can each call for a value at the date of the change.
• Disputes and settlements. Where the parties need a value at an agreed earlier date.

How we value a property as at a past date

We assess the property as it was on the valuation date, not as it is today. That means working only from what the market knew at the time:

• Sales evidence from the period leading up to the valuation date
• The condition and improvements of the property at that date, established from building records, historical aerial photography, photographs and the owner’s own records
• The planning controls and market conditions that applied at the time
• An inspection of the property as it stands now, where that helps establish what has changed

The report states clearly that it is a retrospective assessment and sets out the evidence relied on, which is what the ATO’s valuation guidance asks for.

Why choose PWE for a retrospective valuation?

Retrospective work depends on knowing how the Perth market behaved at the time, not only on what a database shows today. PWE’s three directors are all licensed valuers, each with more than 20 years’ experience, and between them have valued Perth property through several market cycles.

Frequently asked questions

How far back can you go?

We regularly value as at dates ten, twenty or more years ago. The further back the date, the more the result depends on the records available, so tell us what you have.

The property has been renovated or rebuilt since. Does that matter?

No. We value what was there at the valuation date. Old photographs, plans, building approvals and rates notices all help to establish that.

Will the ATO accept a retrospective valuation?

The ATO’s guidance provides for retrospective valuations and says that valuations by professional valuers are more credible than those from people without valuation qualifications. The report needs to be objective and supported by evidence.

Do you still need to inspect?

In most cases, yes. An inspection lets us confirm the land, the position and whatever remains of the improvements as they were.

What do you need from me?

The property address, the exact date or dates required, the reason for the valuation, and any records of the property at that time.

Which areas do you cover?

We value property throughout the Perth metropolitan area.

Talk to a valuer

Call (08) 9228 9955 or send us a message to discuss your retrospective valuation.

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