ATO article: Valuing your assets
If your business has assets – such as vehicles, factory equipment, or property – it’s important to know when you might need a market valuation done and how to get one you can rely on.
You might need a market valuation of assets when you:
You can apply for a market value private ruling from us. Your application can be for us to provide you with a valuation or to confirm a valuation you provide to us. There may be costs involved – refer to thePrivate rulings and valuations fact sheet for details. If you prefer, your agent can lodge an application on your behalf.
Your private ruling will give you a binding asset valuation you can rely on for tax purposes.