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Family Law

Stamp Duty Concessions

With the occurrence of a marriage break-up the Family Law Act starts with the presumption that the transfer of certain property such as the matrimonial home  from one party to another is exempt for duty and tax purposes. Stamp duty concessions are made available under state and territory legislation if the transfer is made under a prescribed family law agreement. In addition there is a general exemption for capital gains tax on the transfer of such property.

New South Wales 

The Duties Act 1997 (NSW) provides that a stamp duty exemption will apply to a transfer, or an agreement for the sale or transfer, of matrimonial property between spouses or between spouses and their children. Matrimonial property is fairly wide ranging and commonly includes assets such as the matrimonial home. A stamp duty exemption also applies to motor vehicles when transferred between spouses. 

Generally for these exemptions to apply there needs to be either:

  • A binding financial agreement made under the family law act
  • An order of a court made under the family law act
  • An agreement that the Chief Commissioner is satisfied has been made for the purpose of dividing matrimonial property as a consequence of the dissolution or annulment of the marriage 

Australian Capital Territory

No duty is chargeable on a transfer of dutiable property under an order of a court under the Family Law Act 1975 (Cth) or the Married Persons Property Act 1986. In this instance dutiable property includes but is not limited to property such as land in the ACT, motor vehicles, shares in ACT companies and interests in partnerships. This means common transfers after separation such as the matrimonial home and cars will not attract stamp duty if they form part of a property settlement order. 

In addition there are concessions offered in the ACT in relation to the purchasing of a new home after a marriage break up. If you have transferred your interest as part of a property settlement and meet certain criteria you are entitled to an exemption or concession in relation the purchase of your new home. You must not have any other interest in other property or have had previous interests in property (except for the one transferred as part of the property settlement). If the property is less than $290,000 a nominal payment of $20 is required for duty. If the property is between $290,000 and $331,000 there are also reduced concessions available for the payment of duties. These duty concessions are also conditional upon an income test as well as the number of dependent children.
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Family Law - Stamp Duty Concessions

Family Law

Stamp Duty Concessions

With the occurrence of a marriage break-up the Family Law Act starts with the presumption that the transfer of certain property such as the matrimonial home  from one party to another is exempt for duty and tax purposes. Stamp duty concessions are made available under state and territory legislation if the transfer is made under a prescribed family law agreement. In addition there is a general exemption for capital gains tax on the transfer of such property.

New South Wales 

The Duties Act 1997 (NSW) provides that a stamp duty exemption will apply to a transfer, or an agreement for the sale or transfer, of matrimonial property between spouses or between spouses and their children. Matrimonial property is fairly wide ranging and commonly includes assets such as the matrimonial home. A stamp duty exemption also applies to motor vehicles when transferred between spouses. 

Generally for these exemptions to apply there needs to be either:

Australian Capital Territory

No duty is chargeable on a transfer of dutiable property under an order of a court under the Family Law Act 1975 (Cth) or the Married Persons Property Act 1986. In this instance dutiable property includes but is not limited to property such as land in the ACT, motor vehicles, shares in ACT companies and interests in partnerships. This means common transfers after separation such as the matrimonial home and cars will not attract stamp duty if they form part of a property settlement order. 

In addition there are concessions offered in the ACT in relation to the purchasing of a new home after a marriage break up. If you have transferred your interest as part of a property settlement and meet certain criteria you are entitled to an exemption or concession in relation the purchase of your new home. You must not have any other interest in other property or have had previous interests in property (except for the one transferred as part of the property settlement). If the property is less than $290,000 a nominal payment of $20 is required for duty. If the property is between $290,000 and $331,000 there are also reduced concessions available for the payment of duties. These duty concessions are also conditional upon an income test as well as the number of dependent children.