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.
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.