Stamp Duty Property Valuations

Stamp duty is a tax which is imposed on specific types of transactions, most commonly on property’s and vehicles. Stamp duty is paid directly to the Office of State Revenue (OSR). Stamp duty is applied on single property purchases, every property purchase will have a stamp duty which needs to be paid. The correct stamp duty which needs to be paid will be determined by an independent property valuer who will provide a valuation report.

There are occasional exceptions and discounts on the stamp duty tax which includes, for first time buyers and the transfer of a property between spouses. Stamp duty tax also differs from state to state in Australia.

Why is a property valuation needed to determine stamp duty?

The State Office of Revenue requires a professional certified property valuer to investigate factors of the property which can influence the property’s value. The valuer then analyses the variables and takes into account the market value at the time to calculate how much stamp duty tax needs to be paid. The amount of stamp duty which needs to be paid differs depending on the value of the property, the higher the property is valued, the more stamp duty tax will need to be paid. This is why it is imperative that the client has a certified, accurate and detailed valuation report, to prevent them from over paying on stamp duty tax.

Why choose Vals TAS?

Here at Vals TAS, each of our property valuers are qualified with the Australian Property Institute (API) and have over 20 years’ experience within the property industry. Our specialised team are here to provide a certified, detailed valuation report which is fully compliant with all governing bodies, providing our clients with the true stamp duty taxable amount. We pride ourselves on our outstanding customer service and guarantee an accurate and reliable property valuation to determine the correct stamp duty.

If you would like a property valuation for stamp duty purposes, or would like to find out more information on how we are able to assist you, please call our team of experts on (03) 6108 2178 and we will be happy to help you. Alternatively, complete one of our online enquiry forms and a member of the team will get back to you shortly.