Property Valuation for Tax Purposes in Sydney
Monita provides independent property valuations for tax purposes, including stamp duty, deceased estate and probate valuations.
What a Tax Valuation Covers
Independent property valuations for tax purposes, including stamp duty, deceased estates and probate, with reports your accountant can rely on.
Who Needs One?
Accountants, tax advisers and taxpayers.
- Property transfers
- Business restructures
- Goodwill
- Plant & equipment
Property Valuation for Tax Purposes in Sydney
Monita provides independent valuations of Sydney property for tax-related matters, including transfers that may be assessed by reference to market value, deceased estates and capital gains tax. Our office is at 1/261 George Street, Sydney NSW 2000, and reports are prepared under Nirav Shah, Chartered Valuation Surveyor (MRICS), Certified Practising Valuer (Property) and Certified Practising Valuer (Plant & Machinery). Group heritage since 1954.
We are valuers, not tax advisers or lawyers. Your accountant or solicitor decides how a value is used. Property work is generally delivered in 5 to 10 business days.
Stamp Duty (Transfer Duty) Valuations in NSW
Revenue NSW states that transfer duty was previously called stamp duty. It also states that duty can apply when property is acquired without payment, such as a gift, and that the dutiable value is the higher of the price paid and the market value.
That is why a market valuation is sometimes considered for transfers that are not a normal sale between unrelated parties. Revenue NSW publishes guidance on when it asks for evidence of value, including where parties are not at arm's length, are associated persons, transfer a fractional interest, or where there is nil or inadequate consideration.
Read the current guidance, or ask your solicitor, conveyancer or accountant, before you order. Tell us who the report is for and what they require.
Estate & Probate Valuations
For deceased estates, a valuation records the market value of the property at the date of death. Executors, accountants and solicitors use it for estate administration and may need it later when working out the cost base for capital gains tax.
Which date and basis apply to your estate is a question for the executor's solicitor or accountant. We prepare the valuation as at the date you give us.
CGT & Retrospective Valuations
Where a past market value is needed for capital gains tax, a retrospective valuation can establish it using the market evidence and condition of the property at that date. See our CGT valuation page for Sydney, or our retrospective valuation page for estates, gifts and other past-date work.
When a Tax Valuation Is Commonly Considered
Ask your accountant or solicitor whether a valuation is needed for:
- A gift, or a sale between family members or associated parties
- A transfer into or out of a trust, company or super fund
- A transfer after separation
- A fractional interest in a property
- A deceased estate or a property later sold
- A business restructure that includes property
What the Report Includes
The report identifies the property, states the valuation date and purpose, sets out the basis of value and assumptions, and shows the comparable sales evidence and reasoning behind the figure. This lets your accountant, solicitor or another recipient see how the value was reached.
One valuation can sometimes serve more than one purpose if the date, basis and purpose match. Settle this with your accountant first so you order the right report once.
How a Monita Valuation Works
Free consultation
We talk through the purpose, the valuation date and what the report is for.
Scope and fee
You get a firm fee estimate and a delivery date before any work begins.
Valuation
We gather the evidence, inspect where needed and apply the method that suits the purpose.
Report
A clear report setting out the basis, the evidence and the reasoning, ready for your adviser, lender or auditor.
Property Valuation for Tax FAQs
What counts as a valuation for tax purposes?
A written opinion of market value by a qualified valuer, supported by market evidence. It is used for matters such as transfer duty, capital gains tax, estates and probate. Your accountant or tax adviser decides how the value is used and which date applies.
What is the difference between stamp duty and transfer duty in NSW?
Revenue NSW says transfer duty was previously called stamp duty, so they refer to the same state tax. Many people still say stamp duty. Your solicitor, conveyancer or accountant can confirm the duty payable on your transaction and whether any evidence of value is needed.
What is dutiable value?
Revenue NSW describes dutiable value as the higher of the price paid and the market value of the property. A valuer provides an opinion of market value. How dutiable value applies to your transaction is for your solicitor, conveyancer or Revenue NSW to confirm.
Do I need a valuation for stamp duty?
It depends on the transaction. Revenue NSW publishes guidance on when it asks for evidence of value, including non arm's length dealings and transfers for nil or inadequate consideration. Ask your solicitor or conveyancer what applies, and check the current guidance.
Why can market value differ from the price paid?
The price paid may reflect a family arrangement, a discount or terms that are not at arm's length, so it may not match what the property would sell for on the open market. A valuer estimates market value from comparable sales evidence at the relevant date.
Who can prepare a valuation for transfer duty purposes?
Revenue NSW sets out its own expectations, which can depend on the transaction. We cannot say what any authority will accept for your matter. Please read the current Revenue NSW guidance or ask your solicitor, and tell us who will receive the report and what they require.
Do I need a valuation for probate?
A valuation of the property at the date of death is often needed or useful for estate administration, but not always. Ask the executor's solicitor or accountant what the estate requires. If a valuation is wanted, we prepare it as at the date you give us.
Which date does an estate valuation use?
For a deceased estate the date of death is commonly used, because the market value at that date is often relevant to estate administration and later capital gains tax. The executor's solicitor or accountant confirms which date applies, and we value as at that date.
What does a tax valuation report include?
The report generally identifies the property, states the valuation date and purpose, describes the basis of value and assumptions, and sets out the comparable sales evidence and reasoning behind the figure. This lets your accountant or solicitor see how the value was reached.
Can the same valuation be used for CGT and transfer duty?
Sometimes, if the valuation date and basis suit both. Different purposes may need different dates or bases, so confirm with your accountant or solicitor before ordering, and tell us each intended use so the report states its purpose clearly.
Can you value a property for tax at a past date?
Yes, in many cases. A retrospective valuation estimates market value at a past date using the evidence and property condition at that time. How far back we can go depends on the records and sales evidence available, so tell us the date and purpose.
How much does a tax valuation cost?
The fee depends on the type of property, whether the date is current or past, whether an inspection is needed and how much market evidence must be gathered. The initial consultation and quote are free, and you receive a firm fee estimate before work begins.
Ask about a tax or stamp duty valuation
Tell us what the valuation is for and the date it relates to. A valuer will get back to you.
Ready for a precise, independent valuation?
Connect with the Monita Asset Management team. All consultations are free of charge.
- Free initial consultation
- Fee confirmed before any work begins
- Certified Practising Valuer, Sydney CBD office