About this template
These terms are presented to the client in the AIQV workspace and must be accepted before the valuation file is unlocked. Acceptance is time-stamped and recorded in the Evidence Appendix. They reflect the ATO’s recommendations for documented instructions to valuers.
Template
Terms of Engagement — Desktop Valuation Assessment for Taxation Purposes
Client: Client name · ABN/ACN (if any): ABN · Property: Property address, title reference · Valuation date: Date of valuation · Valuer: Valuer name, Registered Valuer (QLD) – VRBQ Registration No. VRBQ No., Certified Quantitative Valuer (AIQV) – Certification Number AIQV-QLD-XXXXX · Contracting entity: Valuer entity, ABN
1. Purpose
The assessment is prepared solely for the following taxation purpose: e.g. CGT — market value at date first used to produce income / SMSF annual reporting / related-party transfer. It must not be used for any other purpose, including mortgage lending, banking panels, litigation, family law, insurance or compulsory acquisition.
2. Scope — desktop only, no inspection
The valuer will prepare a Desktop Valuation Assessment (Restricted Scope – No Physical Inspection). The valuer will not inspect the property. The assessment relies on recorded sales evidence, property data, planning information and aerial, satellite and street-level imagery, and on the information you provide. A desktop assessment carries a greater risk of error than a full inspection valuation, and the assessment may differ from a valuation made after inspection.
3. Your obligations
You will provide accurate and complete information about the property, including any improvements, renovations, damage, encumbrances, leases or other matters that may affect value, and will tell the valuer promptly if anything changes. You confirm that you have authority to engage the valuer in respect of the property.
4. Independence
You acknowledge that the valuer is independent and will form their own opinion. You will not seek to influence the value. The valuer may decline to provide an opinion or report, or may recommend a full inspection valuation, if they consider a desktop assessment unsafe or if information or explanations they need are not provided.
5. Fees
The fee is $ amount incl. GST, payable terms. The fee does not depend on the value reported or on the outcome of any tax matter.
6. Reliance and liability
The report may be relied on only by you and your tax adviser, and only for the stated purpose and valuation date. It may be provided to the Australian Taxation Office. No responsibility is accepted to any other person. Liability is limited as set out in the report, subject to any rights you have under the Australian Consumer Law that cannot be excluded. Limitation of liability wording as approved under the applicable professional standards scheme, if any.
7. Records and privacy
The valuation file, including these terms and the Evidence Appendix, is retained for at least seven years and handled in accordance with the AIQV Privacy Policy.
8. Complaints
Complaints may be made to the valuer, or to AIQV at complaints@australianinstitutequantitativevaluation.com.au, under the AIQV Complaints Handling & Disciplinary Procedure, without affecting your right to complain to the Valuers Registration Board of Queensland.
Acceptance
☐ I have read and accept these Terms of Engagement, including that the assessment is a desktop assessment with no physical inspection prepared solely for the taxation purpose stated above. — Name, Date and time — recorded automatically