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For accountants & taxpayers

Fast, defensible valuation evidence for tax purposes

AIQV certified valuers prepare restricted-scope desktop valuation assessments for taxation purposes, each signed by a Queensland registered valuer and backed by a complete evidence record.

Capital gains tax

Market value at a relevant date — for example when a main residence is first used to produce income, the market value substitution rule, or a deceased estate.

SMSF reporting

Market value of real property held by a self-managed superannuation fund for annual financial statements and balance calculations.

Related-party transfers

Confirming that a transfer between related parties or into or out of an SMSF reflects market value.

An accountant meeting with clients

Why it matters

The ATO places the onus on the taxpayer to provide a replicable and defensible valuation, and recommends that the valuer’s instructions are documented. Every AIQV assessment includes:

  • Online Client Terms of Engagement recording the purpose, scope and the valuer’s independence
  • A report titled Desktop Valuation Assessment (Restricted Scope – No Physical Inspection)
  • The valuer’s VRBQ Registration Number and AIQV Certification Number
  • A time-stamped Evidence Appendix covering comparable sales, adjustments, imagery and valuer rationale
  • Record retention for at least seven years

When a desktop assessment is — and isn’t — appropriate

Is a desktop assessment acceptable to the ATO?

For tax purposes, the ATO generally considers the valuation process rather than who conducted it, and regards valuations by suitably qualified professionals following accepted standards as more reliable. Whether a desktop assessment is appropriate depends on the asset and the tax provision. Your AIQV valuer will decline where a physical inspection is required.

What is out of scope?

Mortgage lending and banking panels, litigation and family law, compulsory acquisition, insurance replacement and GST margin scheme valuations. AIQV assessments must not be relied on for any purpose other than the taxation purpose stated in the report.

Can I give the valuer a target value?

No. The valuer must form an independent opinion. AIQV Terms of Engagement confirm that the fee does not depend on the outcome and that the valuer can decline to report if information is withheld.

Can I check the valuer’s credentials?

Yes. Search the AIQV public register by Certification Number, and confirm registration on the public register of the Valuers Registration Board of Queensland.

Requesting an assessment. AIQV assessments are allocated to certified valuers through the AIQV workspace. To register your practice’s interest in referring clients, contact us.

This page is general information and is not tax advice. Taxpayers should obtain advice from a registered tax agent about their own circumstances.