Understanding the New Windfall Gain Tax
From 1 July 2023, the Victorian Government has introduced a windfall gain tax applicable to land affected by rezoning, resulting in a value uplift of more than $100,000. To ensure compliance, landowners must consider rezoning when determining the value uplift and report the valuation for windfall gain tax to the government. At Asia Valuation, our property valuers operating across Glen Waverley are well-equipped with the latest tax legislation to guide you through this process and ensure accurate reporting.
Multiple Units in One Line
Glen Waverley has gentrified into a highly populated suburb. There are many townhouse developments happening in this suburb. We are specialising in the valuation of Multiple Units in One Line assisting our builder or developer clients understand the development process.
Get in touch with Asia Valuation today and let our experts assist. Give us a call on 0415 920 277 or submit an inquiry through our website to get started.
What Valuation Basis we use for Development Feasibility?
We used several valuation approaches and bases for assessing the valuation of a development site for the purpose of development feasibility. These bases include ‘as is’ for site value and ‘as if complete’ for gross realisation of a nominated project.
Is the Valuation Inclusive or Exclusive of GST?
The valuation for site value of proposed development will be exclusive of GST.
What services does Asia Valuation offer in Glen Waverley?
Asia Valuation offers a wide range of valuation services, including immigration law, family law, tax matters such as stamp duty, capital gains tax and windfall gain tax, rental determination and development feasibility, wills and probate, commercial litigation and much more.
What are the advantages of Asia Valuation in foreign valuation markets?
With connections in foreign valuation markets, including Hong Kong, Mainland China, Guangzhou, and Macau, our team here at Asia Valuation can provide accurate valuations for properties overseas. This is particularly helpful for clients who require valuation assessments for immigration purposes or have assets in these foreign countries.
Every team member in Asia Valuation received sufficient postgraduate educational qualification and practical valuation experience. We believed having proper accreditations from API and RICS are a necessity to deliver high quality valuation reports. One talent doing a thing is our mission.Meet Our Team
- Valuation of $20 million for medium-rise residential development known as ‘Ivy Apartments The Entrance’ in New South Wales.
- Valuation of $12 million for high-rise mixed use development, Commercial Zone 1 development site in Box Hill, Victoria.
- Valuation of $30 million for B7 zoned development site in Potts Hill, New South Wales.
- Valuation of $8.5 million for R4 zoned mixed use development site in Blakehurst, New South Wales.
- Suburban Rail Loop Project of Victoria for residential and commercial properties.
- Portfolio Valuations of total net assets of $9 million mansions in Castle Hill and Oatley, New South Wales, in relation to dispute resolution between corporate entities.
- Portfolio Valuations of both local and foreign properties in Shanghai and Melbourne, acting as Expert Witness in the Supreme Court of Victoria for a high-net-worth individual.
- Tender of a historical commercial building including its basement car parking, known as ‘Hong Kong House’ in Sydney, from the Hong Kong Government.
- Valuations of Apartments in Hong Kong and mainland China for immigration purposes in relation to business visa subclass 188 and 888.
- Valuations of foreign consulate buildings as commercial properties in Australia for statutory internal reporting purposes.
- Portfolio valuations of total net assets of $12 million for 3 residential properties including the largest mansion in Olinda, Victoria, for tax purposes.
- Portfolio valuations of total net assets of $4 million for 4 residential properties worth in Hurstville, New South Wales for tax purposes.