Do I Incur Stamp Duty Tax When Transferring 100% of My Property to My Partner?
Incur Stamp Duty: Transferring 100% Property to Partner
Transfers between family members are liable to transfer duty, however some transfers may qualify for an exemption or concession. No transfer/stamp duty is payable where a transfer of residential land is between a married couple, or de facto partners and the property being transferred is either:
- the family home (principal place of residence)
- vacant land, which is intended to be used as the site of the family home.
Following the transfer, the property must be jointly owned, with each partner holding an equal 50% share. It’s important to note that a complete transfer of ownership, where 100% of the property is transferred, will incur stamp duty charges.
De facto couples must be living together for at least two years before applying for this exemption.