Stamp Duty and CGT triggered if transfer QLD property to spouse?

Would stamp duty and/or CGT be triggered if I transferred ownership of a QLD property to my wife?

I'm guessing so, but strange things can happen in QLD!

 

it depends. If a gift of 50% of the main residence potentially not. otherwise yes, if a transfer of beneficial ownership

 

Transfers = transactions
Transfer duty applies whenever you sell, buy or transfer property—such as land or rights to land—in Queensland. Transfer duty is charged on ‘dutiable transactions’ (i.e. transfers that duty applies to) for property.

Dutiable transactions may include:

• signing a contract to buy or sell a home
• giving a half-share of a property you own to your spouse as a gift
• giving someone access across your property (an easement)
• creating a trust over land that you previously owned in your own right for your children or family members.

Dutiable value
In Queensland, transfer duty on land is usually calculated on either the unencumbered value of the property or the amount you agree to pay (the consideration), whichever is higher. The higher amount is called the ‘dutiable value’.

This means that transfer duty can apply even when no money is paid or the transfer is a gift. Read the public ruling about when valuations are needed for transactions with no consideration (DA505.1).

The rates of duty apply to the dutiable value of the property to determine how much you have to pay. You can use the transfer duty estimator to get an idea of the duty.
may apply to a dutiable transaction, so you may have less or no duty to pay if you’re eligible.


The unencumbered rule can be used to reduce duty. It will mean the loan needs to be refinanced. It can be circular with an effort to inflate the loan as a consideration issue