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Stamp duty after buying partner out

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peter78 | 19 Feb 2015, 03:44 PM Agree 0
Hi all,

A question on stamp duty.

I purchased an investment property with a friend 2.5 years ago. We are tenants in common and we each own 50% of the property. Both of our names are on the title. We have an excellent relationship and made sure we had all the legalities sorted out prior to purchasing.

I'm looking to buy her half out later this year, so I am the sole owner. The total value of the property will be ~$600k. If I do this, will I need to pay stamp duty on the full $600k, or given that my name is already on the title, will I only have to pay stamp duty on 50%, $300k?

The property is in Victoria.

Thanks in advance
  • lori | 20 Feb 2015, 12:23 AM Agree 0
    If your partner signs a legal document (drawn up by your solicitor) saying that you are in a partner/domestic relationship then the same rules apply to you as to a married couple. That means there is no stamp duty
    • | 20 Feb 2015, 11:53 AM Agree 0
      Thanks Lori. She's not a "partner" in a girlfriend/wife sense. She's purely a business partner in that we co-own a property. Surely we couldn't go down this route then? What do you think?
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