Determining the fair market value of a gift
When you have received a gift, you must determine its fair market value, i.e. the probable selling price on the day the gift was given, in order to fill in a gift tax return. We assess the gift tax on the basis of this value.
Determining the fair market value
Securities and fund units
You can check the value of securities and fund units with a securities trader or bank, for example. If there is no trading price available for the day when the gift was given, use the price of the closest trading day.
Apartments, real estate units and summer houses
You can donate only a whole real estate unit or share in a housing company or a fractional part of it (such as ¼). This means that you cannot donate a portion that would correspond to a certain amount of money (such as €4,999).
Please note that you cannot use the taxable value of a real estate unit as its fair market value, i.e. as the basis for gift taxation.
How to determine the value:
You can use for example a real estate agent's estimate of the fair market value of the real estate unit or apartment.
A real estate agent's or other expert's estimate is usually a good indication of the fair market value of the property.
If similar property has been sold recently, you can determine the value based on this (reference sale).
However, you can refer to reference sales if
- the piece of property sold is comparable in location and quality to the property you receive as a gift, and
- the reference sale and the donation happen close in time.
Recommended sources of reference sales include Asuntojen hintatiedot ("Prices of apartments", in Finnish and Swedish only) and websites where homes for sale are advertised.
If no reference sale or valuation statement is available, see Varojen arvostaminen ("How to valuate property", detailed guidance available in Finnish and Swedish only).
Forests and farms
If the donation relates to a farm or forestry estate, see Varojen arvostaminen ("How to valuate property", detailed guidance available in Finnish and Swedish only).