Renting out your former home as an investment property triggers CGT. For example, if your home becomes an investment property, you should engage a property valuer as soon as it goes onto the rental market. An internal inspection of the property, at the current date, will provide the valuer with the most comprehensive information to provide an accurate report. However, it is common to provide a retrospective valuation when required, particularly when access to the property is no longer available.
Additionally, gifting a property can trigger the need to pay CGT, based on the property’s market value at the time of the gift.
