Stamp Duty & Related Party Transfers


Stamp Duty Valuations and Related Party Transfer Valuations

Whenever there is a transaction involving any ascertainable property, a stamp duty is to be paid. The price of the property is essential in calculating the stamp duty that is to be paid for the particular transaction. In order to help the authorities to devise the proper stamp duty value that is to be paid for buying and selling of a particular property, it is a requirement to determine the value of the property itself.

The stamp duty is imposed under the law by the Office of State Revenue. It is applicable to properties when there is a transfer of agreements in sale of a real estate, transfer of superannuation of trust entities and when the ownership of the property is transferred or changed. For all the above mentioned reasons, the Office of State Revenue asks for a valuation of property to determine the stamp duty on the transaction. This is where our services are essential for you. If you are planning on selling your property or buying it, we promise to provide with the most accurate valuation of your property. Our reports are drafted in a formal manner which is accepted by the Office of State Revenue and they find it accurate enough to base the stamp duty valuation on the property valuation provided by our experienced valuers.

We have a great understanding of the circumstances that make stamp duty valuation necessary. Our valuers are also aware of the fact that valuations are required not only for sales and purchases of the property, but also for transfer of superannuation funds. Whenever there is a change in the ownership, particularly in agreements of sale or purchase, our services will be necessary for you. Sometimes sales transactions are conducted within the family and the sale deed document does not stand enough to calculate the stamp duty. The Office of State Revenue would insist on getting the property evaluated from a registered valuer. Your lawyers and accountants might advise you regarding the obligation of paying the stamp duty, but it is only our services that can help you and the Office of State Revenue in devising what the actual stamp duty is. Our firm in not only recognized and registered with the local State Revenue Department, but also has a history in the market of being effective, precise and experts in providing valuation services. None of our clients have ever come with complaints of facing the problem of inaccurate valuation of their property for stamp duty calculation purposes.                

Stamp duty is required to be paid whenever a property is transferred from one person to another person. The person will have to pay this duty to the Office of State Revenue and this paid amount is used to determine the selling price of a specific property. To make sure this process is completed easily without any hassle then you are required to gain assistance of an expert in this field. You will have to pay stamp duty when an agreement is transferred as a result of sale of real estates, during the transfer of trust entities or superannuation funds, and during the transfer of ownership of any property. You are bound to pay stamp duty if any of the mentioned situations occur and the stamp duty will be submitted to the office of State Revenue. The experts will do the valuation of your property when you are required to move into your primary residence or before you rented that place to gain benefit from it in the future. You property valuations are also required to understand total gain or loss from the property you are selling.