Hello all! i am seeking some advice or knowledge please. Currently i own a 50% share of a property with my mother who owns the other 50%. I am looking to take 100% of the title and another investor i spoke to a while ago mentioned that the government will sometimes waive if not minimise the amount of stamp duty payable on this sort of transfer due to the circumstances between family members. Does anyone have any knowledge on this sort of scenario or able to point m in the right direction to find out? Regards Justin
Which State are you in ?
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
jussin wrote:Hello all! i am seeking some advice or knowledge please. Currently i own a 50% share of a property with my mother who owns the other 50%. I am looking to take 100% of the title and another investor i spoke to a while ago mentioned that the government will sometimes waive if not minimise the amount of stamp duty payable on this sort of transfer due to the circumstances between family members. Does anyone have any knowledge on this sort of scenario or able to point m in the right direction to find out? Regards JustinUnlikely. This is a dutiable transaction with duty payable on the value of the property transferred. Duty would be payable in NSW.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Yes would be certainly payable in Qld.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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