The following transactions are considered related party transfers:
- between spouses or domestic partners
- transfers between same sex couples deceased estates (transfer to a surviving spouse, executor or beneficiary of the will)
A Stamp Duty exemption applies for transfers between spouses or domestic partners.
- between siblings, parents, children and grandparents
- transfer to or from Family or Unit Trusts (including trustee companies)
- transfers to or from Self-Managed Superannuation Funds (SMSFs)
- other transfers of title to a relative which are in some way associated (not at arm’s length).
There may be Stamp Duty implications of the transfer and also Capital Gains issues that will need to be taken into account. This can be a complex area of conveyancing and we would be happy to discuss your plans with you so we can provide the best advice.