Australian land stamp duty nsw?

Question

Hi , just wanted to ask , if you inherited a 1/10th share of a farm and to get the title changed is there stamp duty involved ?is it the same rate as house stamp duty or is there some other kind of fee ? thanks

Answer 1

I probably shouldn't answer this question as I know very very little about Stamp Duty - let alone Stamp Duty in NSW. Hopefully someone else comes with better info.

In the meantime....

I understand Duty in Victoria only applies to transfer of land. As in, if the ownership does not change, there is no Duty. I know in Victoria, even for transfer of land between different entities (say from an individual to a Self Managed Superfund) if the beneficiary to the land is the same.... it will be exempted from Duty. NSW? Dunno. I know, again in Victoria, changing a title from a "joint owner" to "tenants in common" - from both of us owning 100% to -> I own 50% and have my own title + you own 50% and have your own title - there's no Duty.

So I would have guessed... if we are just splitting the title into two - and not changing the beneficiaries... if that was Victoria... then maybe Duty doesn't apply....

Answer 2

If it is inherited, there is a small fee only for the transfer.