Exemptions From Stamp Duty: Transfers Between Spouses or Former Spouses

The Stamp Duties Act 1923 outlines a variety of situations where parties will be exempt from paying stamp duty when transferring their interest in a property.

Section 71CB of the Act provides an exemption from duty in respect of certain transfers between spouses, former spouses, domestic partners, or former domestic partners.

This section provides an exemption on stamp duty where it involves the transfer of a shared residence from one partner’s name into both names, or vice versa.

What is a Shared Residence?

A shared residence refers to the principal place of residence of which both or either spouse or domestic partner is the legal owner.

Where a spouse or domestic partner has separated, a shared residence refers to the couple’s last principal place of residence of which both or either of them was a legal owner.

This exemption does not apply to spouses or domestic partners who are transferring a non-residential property such as an investment property.

This Exemption to Stamp Duty Payable is Not Always Straightforward

For example, where the property is owned in the capacity of a company or a trust, it is not considered ownership by a spouse or domestic partner.

It is recommended one seeks legal advice to review their current mode of holding and gain advice on any stamp duty implications when transferring an interest in a property.

Contact Us

If you are interested in transferring an interest in your property and would like to know whether you are exempt from paying stamp duty, contact us at Bambrick Legal today. We offer a free, no-obligation 15-min consultation for all enquiries.