Related party including associated or fractional interest transfers

For sales involving transfers of land to associated persons, or fractional interests, or for less than market value.

Related Guidance

• Valuation of land for duty purposes
  

1. The Digital Duties Form.
2. Any agreement or contract of sale (if any) between the parties.
3. A copy of the certificate of title.
4. Evidence of the value of the dutiable property by one of these methods:
   • A letter of appraisal from a licensed real estate agent and a copy of the rate notice.
   • A valuation from a certified practising valuer who is a member of the Australian Property Institute (API) or by a member of the Real Estate Institute Victoria (REIV) with sworn valuer accreditation.
   • A letter of appraisal, commissioned by or for a financial institution for security purposes, providing the valuation is by a certified practising valuer who is a member of the API or by a member of the REIV with sworn valuer accreditation.

Note 1: The letter of appraisal or valuation should be:

1. in the case of a related party transfer for full or fractional interest (without a contract or that is a gift) – within 6 months of the date of the transfer
2. in the case of a sale under a contract between related parties – within 6 months of the date of the contract.

Note 2: Appraisals that do not state the valuer's qualifications will be rejected.

Note 3: Proof of payment of the purchase price is required where the transferee is seeking any of the following:

1. Principal place of residence concession
2. First home buyer exemption or concession
3. Pensioner exemption or concession
4. Off-the-plan concession