Page 8 - P6 Slide Taxation - Lecture Day 2 - Donations tax and Estate duty.

Valuation of property

• Valuation of property sold in liquidating the estate:

– selling price

• Valuation of property not sold:

– fair market value

• unless farming property (bona-fide farming), then less 30%

• Special rules:

– Unlisted shares: Fair market value, ignore selling price

– If a condition has been imposed on the property: Fair

market value, ignore condition