Is there any CGT or stamp duty when a joint tenant transfers their interest to the other joint tenant?
The transfer of property from one joint tenant to the other joint tenant will trigger CGT and stamp duty issues. This is because the other joint owner will increase their ownership by the interest of the other owner.
There may be a CGT exemption if the property is your main residence. Furthermore, some states provide for a stamp duty exemption for your main residence. However, if it is an investment property, or not your main residence, then CGT and stamp duty will be triggered.
If you’d like assistance transferring your interest in a joint tenancy, call us on
1300 654 590 or
email us to speak to an experienced lawyer.
The information contained in this post is current at the date of editing – 28 June 2023.
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