Australia Law
Have Australian law questions? Ask a lawyer now.
Connect one-on-one with {0} who will answer your question
Answered in 3 hours by:
11/19/2008
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 52,728
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
VerifiedHiCustomer
If the property is not used as your principal place of residence and it was acquired after the 20 September 1985 the transfer is a sale and is subject to capital gains tax. The Value is Market value even if you do not have any money changing hands.
In relation to Stamp duty the transfer is also a sale and stamp duty is payable irrespective of what teh property is used for and again it is on market value.
http://www.dtf.wa.gov.au/cms/osr_content.asp?ID=178
I hope this is of assistance if so please click on the accept button.
If the property is not used as your principal place of residence and it was acquired after the 20 September 1985 the transfer is a sale and is subject to capital gains tax. The Value is Market value even if you do not have any money changing hands.
In relation to Stamp duty the transfer is also a sale and stamp duty is payable irrespective of what teh property is used for and again it is on market value.
http://www.dtf.wa.gov.au/cms/osr_content.asp?ID=178
I hope this is of assistance if so please click on the accept button.
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 52,728
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
VerifiedLeon and 87 other Australia Law Specialists are ready to help you
How JustAnswer works
Describe your issueThe assistant will guide you
Chat 1:1 with a solicitorLicensed Experts are available 24/7
100% satisfaction guaranteeGet all the answers you need
Related Australia Law Questions
My wife & I are getting divorced, we have a family trust
My wife & I are getting divorced, we have a family trust that we want to close down as we are both involved in the trust. … read more
John Melis
Lawyer
Bachelor's Degree
35,824 satisfied customers
If I form a Family Trust and gift land to it and after 5+
If I form a Family Trust and gift land to it and after 5+ years the trustees transfer the land to a beneficiary what are the tax implications. … read more
John Melis
Lawyer
Bachelor's Degree
35,824 satisfied customers
Owned a rental.property from new for last 20 years with ex
Owned a rental.property from new for last 20 years with ex wife. As of 2 years ago it became mine in a financial settlement. Is it true there would be no capital gains tax if I keep it and sell it onc… read more
John Melis
Lawyer
Bachelor's Degree
35,824 satisfied customers
I have a client who owns a property in his company name. He
hi I have a client who owns a property in his company name. He now wants to transfer the property in his name is ***** ***** payable on this … read more
Leon
Solicitor
Master's Degree
52,728 satisfied customers
my daughter owns a property in Western Australia which she
my daughter owns a property in Western Australia which she wishes to transfer to me her father.She lives in NSW and I live in her WA property.What costs might be incurred?… read more
Patrick H.
Lawyer
5,422 satisfied customers
If a joint venture partnership having completed a land development,
If a joint venture partnership having completed a land development, creating new small titles for rural residential purposes and wishing to split the new titles equally between the joint venture partn… read more
Leon
Solicitor
Master's Degree
52,728 satisfied customers
If I transfer my assets, family home, cash & shares and a unit
If I transfer my assets, family home, cash & shares and a unit that I own to a trust, say a discretionary trust that I am thinking of setting up. In NSW am I liable for Stamp Duty and what rate would … read more
Patrick H.
Lawyer
5,422 satisfied customers
Hi, I need your help: My husband and I own an investment
Hi, I need your help: My husband and I own an investment property and I would like to have my son inherit it. What would be the advantages and disadvantages in transferring the property now (such as t… read more
Daniel
Solicitor
Bachelor's Degree / Graduate Diploma
7,683 satisfied customers
Good Morning I live in rural Victoria on a property own by
Good Morning I live in rural Victoria on a property own by a Family Trust. This trust is a Discretionary Trust of which I am the sole beneficiary. The property is the only asset the trust holds. I wis… read more
Leon
Solicitor
Master's Degree
52,728 satisfied customers
Hi, I am a New Zealand citizen and have been living and working
Hi, I am a New Zealand citizen and have been living and working in Australia for over 3 years. I am an Australian resident for tax purposes but cannot easily get citizenship as I am a 50 year old (wid… read more
Leon
Solicitor
Master's Degree
52,728 satisfied customers
With a family trust, can I distribute income to both a company
With a family trust, can I distribute income to both a company and individual beneficiaries? Can all the income be distributed to the company? If assets are held in the trust for longer than 12 months… read more
Leon
Solicitor
Master's Degree
52,728 satisfied customers
HelloMy husband is inheriting property from his parents
Hello My husband is inheriting property from his parents one of which is in Australia and the other overseas. I have three questions please: 1. Would there be taxes and other transfer costs associated… read more
Patrick H.
Lawyer
5,422 satisfied customers
In transfering my Right, Title and Interest in a property to
In transfering my Right, Title and Interest in a property to a family member is Stamp Duty and Capital Gains Tax applicable? What would be the result if I gave Limited Power of Attorney until my death… read more
D. Coleman
Solicitor
Bachelor's Degree
795 satisfied customers
I would like to change the ownership title of both our houses
I would like to change the ownership title of both our houses which are currently in joint names just to my wife's name as she is the sole breadwinner and stands to benefit more from tax deductions. W… read more
Leon
Solicitor
Master's Degree
52,728 satisfied customers
An unmarried couple live in her house in England for a couple
An unmarried couple live in her house in England for a couple of years and have a child. During this time they buy a residential property in Australia and rent it out. They never live together in Aust… read more
Brisbane-Lawyer
Lawyer & Solicitor
Master
14,357 satisfied customers
hi there. i need to find an australian lawyer in england. i
hi there. i need to find an australian lawyer in england. i have a house in western australia bought with an ex partner, who is auatralian. he wants to buy my share of the house but wants to do it thr… read more
Deborah Awyzio
Principal Accredited Family Law Speciali
Bachelor's Degree
863 satisfied customers
I am a resident of Western Australia. I am the registered proprietor
I am a resident of Western Australia. I am the registered proprietor of real estate. I want to gift some property to my son and to hold it as bare trustee. How can this be done and what are the steps … read more
Leon
Solicitor
Master's Degree
52,728 satisfied customers
My husband and I recently separated and are using the Family
My husband and I recently separated and are using the Family Law Court of Australia "Application for Consent Orders Kit". We have four properties between us, and we have agreed that one of the propert… read more
Leon
Solicitor
Master's Degree
52,728 satisfied customers
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service.
JustAnswer in the News:
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
What Customers are Saying:
Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!
Edmond, OK
My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.
Redwood City, CA
I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.
Wichita, KS
PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.
Houston, TX
Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!
Atlanta, GA
It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.
Apopka, FL
Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.
Freshfield, Liverpool, UK
< Previous | Next >
Meet the Experts:
Sean
Experienced lawyer
855 satisfied customers
Law degree with 1st class honours from Australian National University.
Darren Kruse
Solicitor
16 satisfied customers
Practising in in Personal Injury, Workcover, Civil Disputes, Family, Wills and Estates and Criminal law.
John Melis
Lawyer
35,824 satisfied customers
Family Law, Commercial Law, Property law, Probate & Wills, Employment Law, International Law, Criminal and Traffic Law, Litigation Tribunal & Courts
Leon
Solicitor
52,728 satisfied customers
BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
Daniel
Solicitor
7,683 satisfied customers
Bachelor of Laws (dist) Graduate Diploma in Legal Practise. Admitted NSW Supreme Court / High Court
Patrick H.
Lawyer
5,422 satisfied customers
Dip Law LPAB - Sydney based lawyer
James D. Ford
Solicitor
1,600 satisfied customers
Lawyer | Founder & CEO at Blue Ocean Law Group
< Previous | Next >
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service.
