🇦🇺 Valuing your Indian property from Australia
Australian courts pull worldwide assets into the property pool. Your flat in India is in it.
Where Australia rules reach your Indian property
The property pool
Under the Family Law Act the pool includes property held anywhere in the world. Both sides must give full and frank disclosure on the financial statement.
Single expert reports
Where the two sides cannot agree a number, an independent expert valuation settles it. We write for a reader who has never seen an Indian title document.
Date of separation values
The relevant date is often separation or filing, not today. We value as at a past date using the notified rates and recorded sales from that period.
CGT on worldwide assets
Australian residents are taxed on worldwide gains. Your cost base in Australian dollars, and the exchange rate on each date, both matter.
The property pool reaches India
Under the Family Law Act the pool of assets includes property held anywhere in the world, and both parties owe full and frank disclosure on the financial statement. Your flat in India is in it, whether or not the other side knew about it.
Where the two sides cannot agree a figure, the courts work on a single expert model rather than duelling appraisers. The report must therefore read as independent, with a declaration to that effect and the valuer's credentials explained for a judge who has never seen an Indian registration.
Which date the court wants
Usually the date of trial or of agreement, not the date you separated. That is the opposite of several Canadian provinces, which is why importing assumptions from another jurisdiction causes wasted reports. Ask your solicitor and tell us before we start.
Capital gains on worldwide assets
Australian residents are taxed on worldwide gains. Your cost base has to be expressed in Australian dollars, and the exchange rate applying on each relevant date matters as much as the rupee figure. Where the property was inherited, the Australian cost base and the Indian cost base will not be the same number.
Aged care and means testing
A point people miss until it arrives. Means testing for aged care can take foreign real estate into account, which means a current valuation of the Indian property becomes relevant to a decision that has nothing to do with tax.
Selling from Australia
The buyer deducts Indian tax at source on the sale value unless a lower deduction certificate is obtained beforehand. Our engineer inspects the property. You do not fly back.
Clients we look after in Australia
WhatsApp is easiest for everyone, and it works from any country without a local number. Send the property details and you get the fee and the timeline back, usually within six hours.
The reports Australia clients ask for most
Schedule AL for your ITR
Asset values for the Schedule AL disclosure, worked out properly rather than guessed at filing time.
Read more →Foreign Asset Reporting Support
Cost amounts and market values your accountant abroad can put on a T1135, an 8938 or an ATO return without flinching.
Read more →Court, Litigation and Encroachment
Court admissible valuation for partition suits, encroachment claims and land acquisition compensation matters.
Read more →Valuations for NRIs in other countries
Living in Australia? Let us tell you which report you actually need.
Tell us the situation in your own words. Two minutes on WhatsApp usually settles which report it is, what date it has to be as at, and which papers to dig out first.