STAMP DUTY AND TRANSFERS BETWEEN SPOUSES AND DOMESTIC PARTNERS

By Andrea Olsson, Senior Associate, MST Lawyers

The current stamp duty exemption for property transfers between married couples and de facto partners involving holiday homes, commercial properties and investment properties will no longer apply from 1 July 2017.  From this date, the Victorian Government will impose stamp duty on transfers of a property that is not your principal place of residence.  Clients wishing to restructure their property portfolio between spouses or domestic partners, other than their primary place of residence should act quickly.  You should consider capital gains tax, land tax and other costs in any transfer.

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