Transfers of Land Between Spouses 1. How to Claim the Exemption 3. Can I transfer property between my spouses? What is the difference between a transfer of land and a de facto partner? Can a spouse transfer the principal place of residence?
Alan Pink considers a stamp duty land tax ‘trap’ when transferring properties between spouses and other family members, and suggests evasive action. It’s pretty generally understood that husband and wife (and civil partners) are treated in most ways as a single unit for the purpose of taxing asset transfers of any kind. Our Digital Duties Form is now used to advise of a transfer between spouses or domestic partners.
We have comprehensive resources to help you complete the Digital Duties Form. To be exempt from duty, the property being transferred between spouses or domestic partners must be a residential property. This means at least one person in the relationship must live in the property as their principal place of residence (PPR) for a continuous period of at least months commencing within months of the transfer.
MS Word Document 132. No transfer duty is payable where a transfer of residential land is between a married couple or de facto partners and the property being transferred is either: the family home (principal place of residence) vacant land , which is intended to be used as the site of the family home. (more…)