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DUTIES VALUATION CITY, TOWN AND SUBURBAN PROPERTY

DUTIES VALUATION CITY, TOWN AND SUBURBAN PROPERTY

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Lodging Party:<strong>DUTIES</strong> <strong>VALUATION</strong><strong>CITY</strong>, <strong>TOWN</strong> <strong>AND</strong> <strong>SUBURBAN</strong> <strong>PROPERTY</strong>OFFICE USE ONLYBundle ID:Assessor:Telephone:Contact Number:Transfer From: Transaction Date: / /Transfer To: Consideration: $Percentage of Interest Being Transferred: %Land Description:Street Address of Property: Lot No. Plan/Diagram/Strata No.Certificate of Title:Volume: Folio: Area of Land:Complete this section if the above land is part of a recent subdivision or Strata Plan: (Where possible supply acopy of the approved plan, diagram or strata plan.)The above land was previously part of: Approval date / /Lot no: Plan/Diagram/Strata: Volume: Folio:Description of Improvements (if any):Type of Building: (e.g. house, duplex, shop etc.)Construction Material: Walls:Roof:Residential PropertyYear Built House Area Bedrooms Bathrooms Lounge Dining Kitchen Other Garages C/PortCommercial PropertyYear BuiltOffice AreaShowroomAreaWarehouseAreaFactory Area Other # of Car baysNet Rent perannumOutgoings perannumEstimated Market Value of: Land & Improvement (if any)$Signature: Date: / / 20OFFICE USE ONLY – <strong>VALUATION</strong> SERVICES REPORTVal MethodSC CI SuOther ………….........InsWIRecommended Value:$Contact Number:Valuer for Valuation Services: Date: / / 20Duty Assessed on:1 of 2


FURTHER INFORMATION TO ASSIST IN THE <strong>VALUATION</strong> PROCESSValuations by Licensed ValuersMatters involving the valuation of land are not required to be referred to the Valuer Generalwhen the Commissioner receives a valuation made by a person who holds a licence under theLand Valuers Licensing Act 1978, and the total value of the land does not exceed $2,000,000(not merely the interest(s) conveyed or transferred or agreed to be transferred).A valuation made by a licensed valuer will only be accepted if:the valuation was made within three months of the date of the transaction; the Commissioner receives written advice from the taxpayer confirming that noimprovements have been made to the land since the valuation was conducted; and where the valuation was conducted for other than duties purposes (e.g. ascertainingthe unencumbered value of the property for security or lending purposes), the valuerprovides written authorisation allowing the Commissioner to rely upon the valuation forthe purpose of assessing duties.Provision of Information by the Lodging Party to Assist in Obtaining a ValuationIn addition to completing the duties valuation form, parties are encouraged to submit any otherinformation that may assist in the valuation process, including, but not limited to: a licensed valuation made by a person who holds a licence under the Land ValuersLicensing Act 1978 that does not met the requirements referred to under the Valuationsby Licensed Valuers section above;a market appraisal made by a licensed real estate agent; ora building inspection report from a licensed building inspector to identify damage to, ordefects of, the dutiable property and details of the cost to repair the damage or defects.How Long Does the Valuation Process Take?Parties should generally allow 15 working days for the valuation and assessment process tobe completed where a valuation has to be obtained from the Valuer General for city, town orsuburban property.For further details regarding valuations please refer to Commissioner’s Practice TAA 8available from the Office of State Revenue website at www.osr.wa.gov.au.Delivery to:OfficePostal addressOffice of State RevenuePlaza Level200 St Georges TerracePERTH WA 6000Office of State RevenueGPO Box T1600PERTH WA 6845Enquiries:Telephone (08) 9262 11001300 368 364(WA country STD callers only– local call charge)Facsimile (08) 9226 0834Web enquiryWebsitewww.osr.wa.gov.au/DutiesEnquirywww.osr.wa.gov.au2 of 2

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