(Usually) the cost of your property plus any expenses you incurred to acquire it. These expenses may include commissions and legal fees. The cost of a capital property is its actual or deemed cost depending on the type of property and how you acquired it. Advisors: Individuals, or a group of individuals, who have experience and expertise greater than your own, and who help you to make financial decisions. Examples: a lawyer, chartered accountant, banker, a stock broker, or a financial planner.
This is an accounting term that attempts to establish the value of real property for tax purposes. It is calculated by starting with the original cost, plus any allowable capital improvements, plus certain acquisition costs, and less any allowable depreciation.