Victoria currently provides a general exemption from stamp duty on the transfer of property between spouses/domestic partners. If you are considering reviewing the ownership structure of your property holdings you should be aware that this concession will become more limited on and from 1 July 2017.
From 1 July 2017 you will only be able to claim an exemption for a transfer between spouses of your principal place of residence. Other property, including investment properties, will not be eligible for the exemption after 30 June 2017 and transfers will be subject to stamp duty at standard rates based on the higher of consideration or market value. Therefore if you are considering a transfer we recommend that you seek you contact us for advice ASAP in order to review your own situation.
Please note that this update is only relevant to property interests held within Victoria.
