All Topics / Legal & Accounting / Stamp Duty when inheriting investment properties

Viewing 4 posts - 1 through 4 (of 4 total)
  • Profile photo of u36mau36ma
    Participant
    @u36ma
    Join Date: 2011
    Post Count: 35
    October 12, 2011 - 11:00 pm

    Hi there,

    I'm in NSW and cannot seem to find this information on the govt websites…
    Wondering if anyone knows if you pay stamp duty when inheriting someone's (NSW) investment property?
    It is effectively a transfer of title after all, but I can't find anything definitive on the subject.

    If so, it sounds like a strong argument for putting the properties in a trust when originally purchasing.
    Any govt website links would be handy please.

    Thanks.

    Profile photo of crjcrj
    Participant
    @crj
    Join Date: 2004
    Post Count: 618
    October 13, 2011 - 10:16 am

    THis is a transmission application – I think there is only nominal duty on a transfer to the beneficiary

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    October 13, 2011 - 2:54 pm

    $50 duty for a transfer to a beneficiary under a will
    s63 Duties Act
    http://www.austlii.edu.au/au/legis/nsw/consol_act/da199793/s63.html

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of u36mau36ma
    Participant
    @u36ma
    Join Date: 2011
    Post Count: 35
    October 13, 2011 - 9:18 pm

    Thanks Terry – just what I was after! You seem to be answering all my questions today!
    Cheers!

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.