Changes to Australia’s capital gains tax (CGT) framework are set to bring valuation evidence into sharper focus. For certified valuers, the recent changes to the taxation framework are an opportunity to demonstrate the value of independent, well-researched and clearly documented professional advice.
The CGT can apply to a much broader range of assets than many clients appreciate. Land, investment properties and shares are familiar examples, but the framework can also encompass artworks, jewellery, coins, antiques, memorabilia and collectables, plus a range of other investment-class assets.
The Australian Taxation Office’s (ATO) guidance on CGT assets and exemptions provides a useful overview. It explains that a CGT asset can include any form of property, together with legal or equitable rights that may not resemble property in the traditional sense.
This breadth creates considerable scope for certified valuers. Ownership changes, deceased estates, relationship breakdowns, related-party transfers, historic acquisitions and assets received outside an arm’s-length transaction can all require reliable market evidence.
The ATO’s framework creates new complexities for taxpayers, including artwork, jewellery, antiques, coins, medallions, rare folios, manuscripts and postage stamps kept mainly for personal use or enjoyment. A collectable acquired for $500 or less is generally exempt from CGT, although rules apply to sets and collections. Personal-use assets fall into a separate category. Capital gains on these assets are generally disregarded where the acquisition cost was $10,000 or less. Cars, motorcycles and similar vehicles are usually exempt, including vehicles that may now command significant collector interest. Assets acquired before CGT commenced on 20 September 1985 may also receive different treatment, subject to their ownership history and subsequent events.
For certified valuers, exemptions can be just as important as liabilities. A valuation may help establish whether a threshold has been crossed, apportion value across a collection, determine market value at a particular date or provide evidence for the cost base of an inherited asset.
These assignments often involve precisely the skills certified valuers bring to the table. Records may be incomplete, markets may be thin and the relevant valuation date may be many years earlier. The asset might also have changed condition, configuration or use. Reconstructing value requires professional judgement supported by defensible evidence.
As the CGT framework evolves, demand for retrospective and taxation-related valuations is likely to grow. It creates opportunities across fine art, antiques, jewellery, collectables, plant and equipment, motor vehicles and other specialist asset classes. The quality of the report will be central. It should clearly identify the asset and interest valued, valuation date, purpose, basis of value, methodology, evidence, assumptions and limitations. A carefully prepared report gives taxpayers and their advisers greater confidence while helping reduce the potential for disputes.
The role of certified valuers will be to establish defensible market values using appropriate evidence, methodology and reporting. Tax advisers interpret legislation, determine tax treatment and advise clients on their obligations. The strongest outcomes come from close collaboration, with each professional respecting their expertise, responsibilities and limits at every stage involved.
AVAA will continue helping certified valuers understand these developments, strengthen their reporting and connect with specialists working at the intersection of taxation and valuation. Member education, professional standards and engagement with government allow practitioners to contribute to the policy discussion while preparing for new areas of work.
CGT assets, exemptions and valuation requirements will be a key topic at the 2026 Australian Valuation Symposium in Sydney on 21 September 2026, in Melbourne on 20 September 2025 and Brisbane on 23 September 2026, with experts from EY examining the practical implications for valuers and their clients. It will be a valuable opportunity to ask questions, test assumptions and explore how certified valuers can respond confidently to this expanding field of professional practice.
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Interested In Finding Out More?
If you’d like more information on the 2026 Australian Valuation Symposium, send an email to cpd@avaa.com.au or telephone 1300 928 165. You can also stay up to date by following AVAA on LinkedIn, X/Twitter and Facebook.
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