My adult daughter and I bought a house together (50/50) as joint tenants in 2022. It became her main residency as she never rebought after her divorce and was renting before. I still have my own main residency. About a year later ( 2023) after my own divorce settlement was finalised, I decided to gift my half of our joint owned house to her. Our legal took care of the official necessities. A new certified valuation was obtained, which was lower then the purchase price, so no implications for Capital Gains Tax. The property was transferred and is now in her name only and she is still residing there. We were told she had to pay stamp duty on half the amount of the last valuation. which amounted to about $12000.--Is the paying of stamp duty required according to the current gifting rules? Thank you for your help.
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746 views
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This forum is not the right place for this question. Stamp duty is a state tax. Nothing to do with the Australian Taxation Office (ATO)
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This forum is not the right place for this question. Stamp duty is a state tax. Nothing to do with the Australian Taxation Office (ATO)
So where can I find the answer? thank you for your help
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