Capital gain / Taxation

The determination of a property’s fair market value is an essential aspect to take into consideration for tax matters.

TAXATION

 

The determination of a property’s fair market value is an essential aspect to take into consideration for tax matters. Whether for capital gain or tax reimbursement (GST and QST) for a new real estate project, or to comply with accounting rules to establish the value of property assets (according to the new I.F.R.S. standards on the issuance of financial statements), the chartered appraiser is the only professional recognized by concerned authorities (or organizations) to establish the market value of properties. In the event of a death, or for an inter vivos transfer, there is a deemed disposal of property assets that comes with tax implications. Property transfer should be made at fair market value. The chartered appraiser is the only qualified professional recognized by the ministère du Revenu that can determine the market value.

Gauthier Roy Huot Évaluateurs Agréés relies on an extensive database that can trace back the market value of property assets retroactively to 1971. Since capital gain became taxable in 1972, individuals or legal entities with properties subjected to capital gain prior to that date must determine as accurately as possible the market value of the property from January 1, 1972.

The chartered appraiser can help individuals, accountants, tax experts and any other person who needs to have their property assets’ value determined at the desired specified date. 


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