ATO’s tax guide on market valuation

October 7, 2022

The ATO released its updated online guide Market valuation for tax purposes. The purpose of the guide is to assist taxpayers in understanding the Commissioner’s general expectations on market valuation for tax purposes. It includes information on what market value means for tax purposes and the evidence and processes the ATO generally expect to see to support a valuation.

It includes 3 examples, which deal with the margin scheme (GST), the maximum net asset value test and market value substitution (non-arm’s length).