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You are here: Important changes to stamp duty for spouse transfers from 1 July 2017. Act now.

Important changes to stamp duty for spouse transfers from 1 July 2017. Act now.

The recent Victorian Budget made a significant change to existing exemption on stamp duty for spousal transfers.  The current position is that a transfer of a property from one spouse to another is exempt from stamp duty.  From 1 July that will no longer be the case.

Transfers of investment properties between spouses will no longer be exempt from stamp duty and from 1 July stamp duty will be calculated on the current market value of the property.

This means that if you intend to restructure your investment property holdings you need to move quickly to avoid additional stamp duty. If there is a mortgage on the property it could take some time for your bank to consent to any proposed transfer.

If you would like more details on this change please call on (03) 9600 0162 or email:

  • Samantha Taylor: samantha.taylor@lordlaw.com.au
  • Andrew Lord: andrew.lord@lordlaw.com.au
  • Andrew Wilson: andrew.wilson@lordlaw.com.au
For further information please visit our page on Conveyancing and Property Transactions.
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By Andrew Lord

Director

This article was written by Andrew Lord, Director of Lord Commercial Lawyers, and a recognised expert in commercial law, business transactions, and legal strategy for business owners.

Click here to learn more about Andrew

Andrew heads Lord Commercial Lawyers as Director and has been in the Legal Industry for over 40 years.

Updated on May 9, 2024

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