stamp duty valuations
Background
A Stamp Duty Valuation is required under the Duties Act 1997 in the following circumstances:
- there is no consideration for the transaction- the consideration is non-monetary in nature- the parties to the transaction are related or associated persons or there is evidence of a broader relationship between the parties or their associates- in the case of an agreement for sale, there is no selling agent- the same legal or professional firms are acting for both parties- the transaction relates to fractional interests in property- the Chief Commissioner is not satisfied that the consideration is an adequate indication of the unencumbered value of the property (for example, where the consideration appears low for the type of property being sold)
Stamp Duty Valuations must be undertaken by a Certified Practising Valuer accredited with the Australian Property Institute (API) within three months prior to the transfer date.
woodburyAU, is an independent property advisory and valuation practice that provides quick and economical Stamp Duty Valuations for lawyers and conveyancers.
These valuations musted be submitted to NSW Revenue with the relevant Purchaser / Transferee Declaration.
woodburyAU provides Stamp Duty Valuations for all types of torrens and strata title property including residential, social & affordable housing, retirement villages, hotel & leisure, retail, commercial and industrial throughout New South Wales.
All Stamp Duty Valuations are issued by Paul Woodbury, a Certified Practising Valuer and Fellow of the Australian Property Institute with over 35 years valuation experience.
If you would like to commission a Stamp Duty Valuation for your transfer(s), please call Paul Woodbury on 0404 055 333 or email pwoodbury@woodburyAU.com.au.
Fractional Interests / Partition Transfers
QuestionIs Stamp Duty payable on the transfer of fractional interests / partition transfers?
AnswerYES, unless the value of the fractional interests are equal to the fractional interests – see Section 30 of the Duties Act 1997. The value of fractional interests must be assessed by an independent Certified Practising Valuer accredited with the Australian Property Institute (API) within 3 months prior to the transfer date.
RecommendationFor all related party / partition transfers we strongly recommend that you consider woodburyAU, a specialist stamp duty valuation firm that has a proven track record of providing quick and economical stamp duty valuations.
Call to ActionPlease contact Paul Woodbury on 0404 055 333 or email pwoodbury@woodburyAU.com.au for an obligation free quotation for your next related party / partition transfer. Testimonials from countless lawyers and conveyancers available upon request.
AnswerYES, unless the value of the fractional interests are equal to the fractional interests – see Section 30 of the Duties Act 1997. The value of fractional interests must be assessed by an independent Certified Practising Valuer accredited with the Australian Property Institute (API) within 3 months prior to the transfer date.
RecommendationFor all related party / partition transfers we strongly recommend that you consider woodburyAU, a specialist stamp duty valuation firm that has a proven track record of providing quick and economical stamp duty valuations.
Call to ActionPlease contact Paul Woodbury on 0404 055 333 or email pwoodbury@woodburyAU.com.au for an obligation free quotation for your next related party / partition transfer. Testimonials from countless lawyers and conveyancers available upon request.
Stamp Duty Valuations are also known as Transfer Duty Valuations; Partition Valuations
Certified Practising Valuers are also known as Certified Property Valuer; Certified Valuer; Registered Valuer, Licensed Valuer, Qualified Valuer, Property Valuer; Real Estate Valuer
Local Government Areas serviced include Ashfield; Auburn; Bankstown; Blacktown; Blue Mountains; Botany; Burwood; Camden; Campbelltown; Canada Bay; Canterbury; Central Coast; Concord; Cumberland; Drummoyne; Fairfield; Georges River; Hawkesbury; Holroyd; Hornsby; Hunters Hill; Hurstville; Ku-ring-gai; Lane Cove; Leichhardt; Liverpool; Manly; Marrickville; Mosman; Newcastle; North Sydney; Northern Beaches; Parramatta; Penrith; Pittwater; Randwick; Ryde; Strathfield; South Sydney; Sutherland; The Hills; Warringah; Willoughby; Wollongong; Woollahra
Regions serviced include Balmain; Blue Mountains; Canterbury-Bankstown; Castle Hill; Central Coast; Central Sydney; Cronulla-Sutherland; Eastern Suburbs; Epping; Illawarra; Inner West; Manly-Warringah; Lower North Shore; Nepean; Newtown; Northern Beaches; Ryde-Eastwood; South Sydney; South Western Suburbs; St George; The Hills; The Shire; Upper North Shore; Western Suburbs; Wollongong
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