Hi All,
I have a block of land which is jointly owned with my 2 brothers. My wife and I are purchasing the land off the other 2 but we want to transfer without having to pay and Stamp Duty.
Similar situation with our commercial proprty but we want to tranfer into a company avoiding the same.
ANy suggestions[?]
p.s. we are in NSW
The only way I know to do this to eschew Stamp duty is to have the holding in a corporation or a unit trust and sell the corporation or the unit trust to another entity.
the transfer of title from one entity to another would trigger SD under the actPretty much impossible I would have thought – apart from a few exceptions (family court orders/ppor transfer to joint ownership with spouse in certain states), any time you transfer an interest in land you cop stamp duty, even if you are not actually purchasing and are “gifting” property from one person to another.
In this case, you are actually purchasing their interest so wouldn’t imagine would be any way around it – unless there’s something in NSW that’s different to the norm.
Cheers
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