Stamp duty (known as transfer duty in Queensland) can be a confusing element of property transactions. It is a State Government tax that is levied on transfers of property such as a business, real estate or certain shares. The amount of stamp duty you’ll need to pay depends on the value of the property.
If the underlying value of your property is unclear, an accurate valuation report may be vital for your transfer (stamp) duty assessment.
If your property is being transferred or gifted in a private transfer, you may be required to provide a stamp duty report to your state’s tax authority to determine the fair market value of the property – particularly if your agreed price is below or above the property’s market value.
At Herron Todd White our stamp duty reports are completed by registered property valuers and ensure that our clients never pay more stamp duty than they are liable for. Please request a quote today and our professional team will assist you in providing a stamp duty report tailored to your personal needs and your state’s reporting requirements.
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