- Companies never had the 50% CGT discount and do not get indexation under the new rules.
- Shares in a private company held by an Australian resident individual or a trust can be caught by the deemed sale at 30 June 2027.
- Where that applies, the value that matters is usually the shares, not each asset inside the company.
- Valuing shares means valuing the company's business, then the shareholding, including control or minority.
- Your accountant or tax adviser decides whether the rules apply to your shares.
Companies are not affected by the discount change
From 1 July 2027 the 50% CGT discount is replaced by cost base indexation and a minimum 30% tax on certain gains. That change applies to individuals, trusts and partnerships.
Companies are not affected by it. A company never had the 50% discount, and it does not get indexation under the new rules. When a company sells its own assets, its capital gain is worked out much as before.
There is one rule to check. Assets acquired before 20 September 1985 (pre-CGT assets) are brought into CGT for growth from 1 July 2027, with their own deemed sale at 30 June 2027. A company that holds any should ask its adviser how that rule applies.
But the shareholders may be
Most private company shares are owned by people or by family trusts. Those shares are assets of the shareholder, not of the company.
Under the new rules, an asset held by an Australian resident individual or a trust at the end of 30 June 2027 is generally treated as sold just before 1 July 2027 and bought back on 1 July 2027. The gain up to that date keeps the old treatment. The gain after it falls under the new rules.
So if you, your spouse or your family trust hold shares in a private company, those shares may need a value at 30 June 2027. The amount used is the market value of the shares at that date, or an amount under an apportioning method. A valuation is not required, but it may be useful. Your accountant or tax adviser decides whether the rules apply and which method suits you.
Nothing is payable on 30 June 2027. The gain is deferred until the shares are sold, gifted or transferred, or another CGT event happens.
The shares, not the company's assets
This is the point most people miss. If the deemed sale applies to your shares, the value that matters is the value of your shares, not a list of what the company owns.
To value a shareholding, a valuer works in two steps.
Step one: value the company's business. Usually this means looking at maintainable earnings, the risks of the business, and market evidence for similar businesses. Then adjust for debt, surplus cash, loans to and from shareholders, and assets the business does not need.
Step two: value the shareholding. This is where the size and rights of your holding matter:
- Control. A holding of more than 50% usually lets the owner appoint the board and decide dividends. That is worth more per share.
- Minority. A small holding usually cannot force a sale, a dividend or a change of direction. A discount for lack of control may apply.
- Marketability. Private company shares cannot be sold on an exchange. That can affect value.
- Share classes and the constitution. Different classes can carry different rights to dividends, capital and votes. Transfer restrictions and pre-emptive rights matter too.
A 100% holding, a 50% holding and a 10% holding in the same company are not simply fractions of one number. See valuing private company shares for CGT.
Groups with a trust and a company
A common structure is a discretionary trust that owns the shares in a company that runs the business. Here the company is unaffected, and the trustee holds the shares as a trust asset. The value needed is usually the trust's shareholding at 30 June 2027. See trusts and the 30 June 2027 valuation.
What the valuation report covers for this purpose
- the company, the shareholder, and the exact shares valued (number, class and percentage)
- the date: 30 June 2027, just before 1 July 2027
- the purpose: the deemed sale and reacquisition of the shares under the new CGT rules
- market value as the standard of value
- the value of the company's business, the bridge to equity value, and the value of the shareholding, including any control or minority considerations
- method, cross-check, evidence, assumptions and limitations
- the signature of the valuer responsible
What we need from you
- the share register and the company constitution, and any shareholders agreement
- a structure chart showing who holds the shares
- company financial statements up to and including the year ending 30 June 2027
- management accounts and a balance sheet at 30 June 2027, including loan accounts
- records from around the date: main customers, contracts, pipeline, staff and known risks
Get a fixed fee
The fee is fixed by the company's annual revenue, from $1,495 + GST for revenue under $1 million. You can book a 30 June 2027 valuation of your shares now at 10% off, and we value after the date. Choose your revenue band below.
General information only, current at 10 November 2026. We value businesses and business interests; we do not give tax advice. Your accountant or tax adviser decides whether a rule applies to you.