Valuation invoice template: what a GST tax invoice must show
What the ATO requires on a tax invoice, what a valuation firm should add so clients pay on time, and a field by field template you can check your own invoices against.
By Valufield6 min read
An invoice is the last document a client sees from your firm, and often the one they look at most closely. For a valuation firm registered for GST it also has to be a valid tax invoice, or your business clients cannot claim the GST back and will ask you to reissue it. This guide covers what the Australian Taxation Office requires, what a valuation invoice should carry on top of that, and a template you can check your own against.
This is general information, not tax advice. The ATO's own pages, linked below, are the authority, and your accountant knows your circumstances.
Do you need to issue tax invoices?
If your firm is registered for GST, yes. Registration is compulsory once your GST turnover reaches $75,000 a year. Below that, registering is optional.
If a client asks for a tax invoice, you must provide one within 28 days of the request, unless the sale is $82.50 or less including GST. Almost every valuation fee is above that, so in practice every invoice you send should be a tax invoice from the start.
If your firm is not registered for GST, do not call your invoice a tax invoice and do not add GST to it. Show your ABN and the fee, and nothing that looks like a GST amount.
What the ATO requires on a tax invoice
The ATO's tax invoice page sets out what a tax invoice must include. For a sale of less than $1,000:
That it is intended to be a tax invoice. The simplest way is the words "Tax invoice" at the top.
Your identity, such as your firm's business or trading name.
Your ABN.
The date the invoice was issued.
A brief description of what was sold, for example "Market valuation of 12 Example Street, Parramatta, for family law purposes".
The GST amount, if any. You can show it separately or, if GST is exactly one-eleventh of the total, state that the total price includes GST.
The extent to which each item is taxable, which matters when an invoice mixes taxable and GST-free items. Valuation fees are generally taxable in full.
For a sale of $1,000 or more, the invoice must also show the buyer's identity or ABN. Long-form, commercial and rural valuations regularly pass $1,000, so make this a habit on every invoice rather than something to remember on the big ones.
What a valuation invoice should add
The ATO's list makes an invoice valid. It does not make it easy to pay or easy to match to a file. For valuation work we would add:
The property address, in the description or its own line. It is how the client, their solicitor and your office will recognise the job.
The purpose of the valuation, such as family law, deceased estate, SMSF or capital gains tax. Accountants and solicitors file by matter.
The instructing party and the client, when they differ. The solicitor may have instructed you while the client pays.
Your quote or job reference, so the invoice ties back to the signed terms of engagement.
The date of valuation and the inspection date, which matter for retrospective and date-of-death work.
A due date and payment terms, such as seven or fourteen days.
How to pay: a card payment link and your bank details (BSB, account number and account name) with a reference to quote.
Any deposit already paid, and the balance now due, when you took a deposit before the inspection.
A template you can check against
Laid out top to bottom, a valuation tax invoice might read like this:
Tax invoice, with your firm's name, logo, ABN, address and contact details.
Invoice number and issue date, then the due date.
Bill to: the client's name or business, and their ABN when the total is $1,000 or more.
Instructing party and reference, when different from the client.
Description: the valuation type, property address, purpose, date of valuation and inspection date.
Fee, GST and the total including GST, or the total with the words "Total price includes GST".
Less deposit received, then the balance due.
Payment options: pay by card online, or bank transfer with the invoice number as the reference.
Terms: when payment is due, and who to contact about the invoice.
If you would like to see it filled in, we have put a sample valuation tax invoice on our resources page.
Deposits, credit notes and keeping records
Deposits. Many firms ask for a deposit on private work before the inspection. A deposit invoice is still a tax invoice if GST applies, and the final invoice should show the deposit received and the balance.
Mistakes. If an invoice is wrong after it has been issued, issue a credit note or an adjustment note rather than editing the original. A clean trail is easier for you, your accountant and your client.
Records. The ATO expects business records, including tax invoices, to be kept for five years. Storing them in a system rather than an email folder makes that painless.
Getting paid on time
Most late payments are not refusals. They are invoices that were hard to act on: sent to the wrong person, without a way to pay, or forgotten. Three habits help more than stern wording:
Send the invoice the day the report goes out, not at the end of the month.
Make paying possible in one step, with a card link and bank details on the same page.
Send reminders before and after the due date, and stop them the moment the invoice is paid, so nobody who has paid is chased.
How Valufield does it
Valufield's invoices are built for this. When GST applies the invoice is headed "Tax Invoice", GST is worked out at the rate set for your firm, and your ABN appears on every tax invoice once you add it to your settings. Line items come from your own fee list, with room in the description for the property address and purpose.
You can raise a deposit invoice from an accepted quote and invoice the balance when the report is ready. Clients open the invoice straight from the email and can pay by card once you connect your firm's own Stripe account, or by transfer using the bank details on the same page; Stripe's card fees apply. Reminders go three days before the due date and one, seven and fourteen days after, and stop once the invoice is paid. Credit notes, refunds and a payments ledger are included.
For the rest of the practice side, see what a firm actually needs from its software, or look through the features page.
Written by the Valufield team
We build practice software for Australian property valuation firms. Every figure in our posts links to its source, and we only describe what Valufield does today.
