Transfer Duty Valuations
‘Transfer Duty (formerly known as Stamp Duty) is a State Government Tax payable to the State Revenue Office (SRO), aka Revenue NSW, when property ownership is transferred from one party to another. A transfer duty valuation is compulsory when transferring proprietorship amongst related parties or where the property is being transferred into a superannuation fund or other trusts and lawful entities.
Transfer duty is calculated as a percentage of the purchase price or the property’s market value, whichever is greater. If you want valuation services for capital gains tax purposes, contact Landlink Valuations today.
When will you pay Transfer Duty?
- Transferring ownership of a property to a purchaser.
- A joint owner may want to remove an owner from the title where a property was purchased together.
- A property owner transfers property to his / her SMSF.
- Parents are selling property to their children.
- The husband transfers property in his name to his wife to be jointly owned.
- Sibling transferring his share of a property to another sibling.
Solicitors and Conveyancers often require transfer duty valuations for their clients. And this is where Landlink Valuations can help. Just give us a call and get valuation services for capital gains tax purposes.
