Properties in trusts and divorce

Discussion in 'Accounting & Tax' started by beachgurl, 27th Oct, 2016.

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  1. beachgurl

    beachgurl Well-Known Member

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    We have a few properties in trusts, which have been allocated to me in our asset split. I'm getting conflicting advice on whether stamp duty is payable if the trust is dissolved and the properties are put in my name, or when removing the ex from the trustee company/trust structure.

    Has anyone had experience in this, or can guide me to information in this regard? The property settlement will be via a Court order. thanks
     
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Which states are the properties in?
     
  3. beachgurl

    beachgurl Well-Known Member

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  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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  5. beachgurl

    beachgurl Well-Known Member

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    Thanks for that Terry. I'll keep digging as to whether properties held in a trust are deemed matrimonial property
     
  6. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    The Duties Act doesnt require actual orders where CGT law may in some cases. For matrimonial property on trust the Commr will generally seek a copy of orders as authority for the concession..

    OSR can tell you. The lawyers should know
     
  7. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Under the Family Law act they can be.