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We’re both over 1.6 million cap & we ‘re considering to transfer a unit to ourselves before 1 July 2017, with the purpose of using it as our principal place of residence.
We’re on TTR phase but would retire to access our super in a lump sum payment in specie. Is there a stamp duty discount in NSW when real estate is transferred to members on retirement?
A: Thank you for the question
To the best of my knowledge there is no stamp duty concession in NSW for this type of transaction. I have checked the NSW Office of State Revenue website and I can’t see why stamp duty at the normal rate wouldn’t apply.
That said, I would encourage you to get some good advice from a lawyer who understands the super laws and stamp duty provisions. There are not many people out there that have these two skills.
