Stamp duty and costs if selling to family members

Hi PCers,

Would selling to my kids/spouse at sub market price, eg. 60%, still attracts market price stamp duties? What about transaction costs? Exactly as a normal sale? What about if the transfer of ownership as a gift or partial gift?

Any advice appreciated thanks.

 

Yes market value

 

Stamp duty and cgt calculations, if applicable, are always at market valuation regardless of price paid.
Marg

 

An agent can provide a comparative market analysis in QLD for transfer duty purposes - 3 like sales.

 

Thanks everyone...

 

Why do you want to transfer to your kids? It can help them more if you wait until you die
- no stamp duty
- no CGT
- protected from spouses until then
- leave via a testamentary discretionary trust which could save them heaps of tax and give further asset protection.
- they may predecease you.

In the meantime you could lend them some money perhaps. maybe as an interest free loan.