Transfer Duty Exemption Question

[Tone]

Hi Guys,

I need to know if i can avoid paying stamp duty.

Here is my situation.

Myself and brother are beneficiaries on grandmothers will.

Grandmother left a property after passing away.

Father had right under Grandmas will to live in the property and sell to purchase another property in the estates name or trustees name.

Father sold Grandmas property and purchased another in his name and not the name of the estate or executors / trustees on Grandmas will.

Father has been instructed to distribute the property to the beneficiaries being myself and brother.

Property was valued at 430k recently.

Stamp duty calculation has come back at 8459.50 according to my calculations.

Myself and brother will be on title as joint tenants. Father will continue to reside in the property until he passes.

$100 to anyone that can provide a way to avoid stamp duty. I'm fairly certain there would be a legitimate way.

T0ne.

 

[Paul@PFI]

$100 to save $9K.

Like buying jousting sticks for $50. We all know they worth far more. Serious there is a exemption in Duties Act. Its in the vibe of it. Argue the unconstitutional line.. My lawyer Denis Denuto told me.

 

[tobe]

$100 to save $9K.

Like buying jousting sticks for $50. We all know they worth far more. Serious there is a exemption in Duties Act. Its in the vibe of it. Argue the unconstitutional line.. My lawyer Denis Denuto told me.

I dug a hole.

 

[Kinnon Bell]

$100 to save $9K.

Like buying jousting sticks for $50. We all know they worth far more. Serious there is a exemption in Duties Act. Its in the vibe of it. Argue the unconstitutional line.. My lawyer Denis Denuto told me.

That post is going straight to the pool room.

 

[Terry_w]

Hi Guys,

I need to know if i can avoid paying stamp duty.

Here is my situation.

Myself and brother are beneficiaries on grandmothers will.

Grandmother left a property after passing away.

Father had right under Grandmas will to live in the property and sell to purchase another property in the estates name or trustees name.

Father sold Grandmas property and purchased another in his name and not the name of the estate or executors / trustees on Grandmas will.

Father has been instructed to distribute the property to the beneficiaries being myself and brother.

Property was valued at 430k recently.

Stamp duty calculation has come back at 8459.50 according to my calculations.

Myself and brother will be on title as joint tenants. Father will continue to reside in the property until he passes.

$100 to anyone that can provide a way to avoid stamp duty. I'm fairly certain there would be a legitimate way.

T0ne.

Your kidding? I charge $500 for a meeting to discuss.

Who instructed the father to transfer property?

It seems there may have been a breach of trust and perhaps the dad holds the property for you both on a constructive bare trust - for the trustee of the property in the will. If you have a court order it may be possible.

Advice like this is going to cost you around $10k or so.