When does NSW require evidence of value?
Revenue NSW's DUT 012 ruling explains when value evidence may be needed, including related-party dealings and transactions where the stated consideration may not reflect unencumbered value. A family transfer should not be assessed on the assumption that a low agreed price determines the duty.
Why the report format matters
The ruling distinguishes initial evidence of value from circumstances requiring a comprehensive valuation with an inspection. A brief appraisal or desktop report is therefore not a universal solution. Give your conveyancer the proposed report scope and confirm it meets the relevant requirement before ordering.
What to provide with your enquiry
- The NSW property address and title details.
- The interest being transferred and relationship between parties.
- Transaction documents and any revenue authority request.
- The required valuation date, confirmed by your adviser.
- Access arrangements and any relevant property changes.
Other states and territories
This article's regulatory example concerns NSW. Do not apply its evidence rules automatically to a property elsewhere. The relevant revenue authority and your conveyancer should determine the requirements for that jurisdiction.
Explore stamp duty valuations or property transfer valuations to arrange the instructed scope. If the transaction also needs a CGT valuation, confirm whether separate dates, purposes or reports are required.
Frequently asked questions
Can a desktop valuation always be used?
No. Some NSW circumstances call for a comprehensive valuation indicating an inspection. Confirm the applicable requirement first.
Does ordering a valuation establish an exemption?
No. Exemption eligibility and duty calculations require separate assessment by your adviser or revenue authority.
Is the fee fixed?
Request a current quote for the property, format and purpose. An older advertised starting price is not confirmation of the present fee.
Sources and further reading
- Revenue NSW: Evidence of value, DUT 012 version 4 — NSW evidence and inspection requirements; other jurisdictions have their own rules.
Arrange the right report
Explore stamp duty valuations with Propti. Send the property address, purpose, required date and recipient’s instructions when you request a property report quote.