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.
If you require assistance with making a Will or for any other estate concerns, you can contact our Wills & Estates team by email phone +61 3 8540 0200.
