Transfer between family members (not spouse) and stamps duty in VIC

Discussion in 'Accounting & Tax' started by Jpm, 27th Jan, 2017.

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  1. Jpm

    Jpm Member

    Joined:
    27th Jan, 2017
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    Melbourne
    Hi All

    Are there any 'concessions' for transfer of title between say a parent and child.

    I.e Property owned by Mother and son and now Mother wanting to transfer title to son outright.

    I assume stamp duty applies at market rate value and a CGT event is triggered given it is a IP.
     
    Jpm, 27th Jan, 2017
    #1
  2. Terry_w

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

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    No concessions that I know of except at death
     
    Terry_w, 27th Jan, 2017
    #2