Reducing land tax by removing name from title - NSW

If a husband and wife own two investment properties in NSW and both their name is on both the titles, to reduce land tax (so they can use their own threshold rather than sharing one threshold) is it a good idea for them to remove one of their names from each title (i.e. so that the husband has his name on one and the wife has her name on the other)?

If so,

Does this incur stamp duty or other fees?

By what date in each calendar year does this need to be done so they dont incur land tax for that year?

 

This could reduce land tax but will likely trigger stamp duty and CGT. Whether it is a good idea or not will depend on the circumstances. It could be used as part of a recycle debt strategy and may cost money initially but could save money in the long term. seek legal advice.

31 Dec each year is the relevant date.

 

I would imagine capital gains tax cannot be avoided if the property is sold any way but will it actually cost stamp duty to remove a name from the title?

obviously stamp duty will more than likely kill any savings you may gain.

 

a transfer, whether for consideration or as a gift, will result in both stamp duty being triggered and be a capital gains tax event - but the main residence exemption could apply if you had lived in the property.

 

Get divorced and part of the settlement is one property each.

When the ink is dry, reconcile with your ex-partner, no CGT or SD.

 

Could apply....Perhaps not 100%.