Hi,
I was just after confirmation whether the market valuation of a Commerical Property should be GST inclusive or exclusive in the Financial Statements. If someone has a link to where this is confirmed by the ATO, I would appreciate if you could post the link as I have searched and haven't been able to find anything.
Financial statements are always prepared on a GST exclusive amount as GST is accounted for on the BAS's/ annual GST return
Accordingly valuation would be on a GST exclusive basis