Stamp duty on title change of tenant type NSW

Hi All, while not strictly a tax matter ....

I was looking for stamp duty triggers if changing tenant type in NSW

All I could find seems to read that changing type, but with same ownership does not trigger stamp duty.

I am sure they have this covered, but will ask anyway, if spouses change from tenants in common, to joint, but then change ownership ratio, does this trigger full duty.

 

Yes will trigger.

BTW unequal shares can only be TIC

 

Strictly speaking, Not always. In NSW a single owner can change title to one of two types with the spouse (incl defacto and same sex partner) and transfer duty does not occur provided the property is occupied as the principal place of residence at the time of the transfer by those parties.

A. 50/50 TIC or
B JT

Any other % change or parties and its dutiable. Removing a owner is always dutiable.
The further exceptions of course are death or matrimonial splits.

 

Thanks for the replies.

I thought they would have it covered. If the % is varied is it a full stamp duty ?

 

It is stamp duty on the value changing hands, not the whole property.