Stamp Duty
What exactly is a stamp duty valuation report?
Stamp duty is the name of the tax payable upon transfer of ownership of
an asset between two or more parties. A stamp duty valuation is required when transferring ownership
between related parties or where property is being transferred into a superannuation fund or various
other trusts and legal entities. The stamp duty tax is then payable based on the valuation report
provided by a registered valuer. Often a property is sold between related parties and is significantly
below market value in which case you will need to have a stamp duty valuation to determine market value.
Stamp duty valuation reports contain information on the physical attributes of the property, current
market sales evidence and professional interpretation and valuation rationale.
Why do I need a Stamp Duty Valuation and is it
compulsory?
When there is a transfer of ownership in a property the office of state
revenue requires a stamp valuation report, which must be conducted by a registered property valuer. The
amount of stamp duty tax you pay depends on which state the property is located in and the valuation
amount reported by the valuer.
Why choose us for your stamp duty valuation?
Stamp duty is an expensive tax! Therefore an accurate valuation is
paramount to make sure you do not pay more tax than you need to. We conduct stamp duty valuations for a
host of clients including solicitors, conveyancers and company and trust entities. Our valuers are
experienced in providing stamp duty valuations for the office of state revenue and have access to the
proper property research databases so we can find the most relevant market sales for stamp duty purposes
and have all the necessary details to form a professional and accurate opinion.
Please contact us for a guaranteed competitive
quote.
