Australia Law
Have Australian law questions? Ask a lawyer now.
Connect one-on-one with {0} who will answer your question
Answered in 16 minutes by:
5/19/2010
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 52,712
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
VerifiedHI
Officially you have to prepare a new Transfer showing the change.
you also need to put into the SMSF account the value of the house.
Section 123 of the Duties Act exempts transfers from a trust to beneficiaries under the trust.
Before you do anything you should speak to your accountant that audits the SMSF and get information on how it is run and how the property is shown.
You should also speak to the Solicitor that had carriage of the purchase and see whether he showed it was you as Trustees that purchased the property
This has implication for CGT as well.
on the stamp duty aspect I believe you do not have to pay stamp duty.
I hope this is of assistance
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 52,712
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 husband & i are on the deeds to our house, and i would
hi my husband & i are on the deeds to our house, and i would like to transfer the deeds to just him. do we have to pay costs for this in queensland … read more
Leon
Solicitor
Master's Degree
52,712 satisfied customers
I am considering purchasing an investment property through
I am considering purchasing an investment property through my discretionary family trust fund. Therefore, the title to the property will be held indirectly through the family trust and with correspond… read more
Leon
Solicitor
Master's Degree
52,712 satisfied customers
I have A Family Discretionary Trust with a Pty Ltd Company
I have A Family Discretionary Trust with a Pty Ltd Company as a the Corporate Trustee. I found out a few days ago that the Corporate Trustee Company has been deregistered by ASIC a few months ago as m… read more
Leon
Solicitor
Master's Degree
52,712 satisfied customers
My wife and myself have an SMSF and we wish to transfer an
My wife and myself have an SMSF and we wish to transfer an investment house from the fund to cover our pension payment in lieu of taking our pension in cash. Do we qualify for a stamp duty exemption? … read more
Leon
Solicitor
Master's Degree
52,712 satisfied customers
I am 40 and have a commercial property unencumbered in my name
I am 40 and have a commercial property unencumbered in my name valued approx 500k?and also unemcumbered property I own and live in. I live in Victoria. What asset protection mechanisms can I use witho… read more
Leon
Solicitor
Master's Degree
52,712 satisfied customers
We have exchanged contracts in 2011 on a unit in NSW , however
We have exchanged contracts in 2011 on a unit in NSW , however have just been advised by our Bank, after applying for Finance , that the contract is illegal ( by the way we have been dealing with this… read more
Leon
Solicitor
Master's Degree
52,712 satisfied customers
Want to change house title to tenants in common , wanting to
Want to change house title to tenants in common , wanting to know how I do this. It it also possible to specify what percentage each person owns and is there stamp duty payable if all the tenants are … read more
James D. Ford
Solicitor
1,600 satisfied customers
I AM INTERESTED IN BUYING A COMMERCIAL PROPERTY FOR BETWEEN
I AM INTERESTED IN BUYING A COMMERCIAL PROPERTY FOR BETWEEN $850000 AND $900000 USING FUNDS IN MY SMSF AND A LOAN FROM WESTPAC. WHAT STAMP DUTY WOULD I PAY? ALSO IT IS A POORLY PERFORMING RESTAURANT W… read more
Leon
Solicitor
Master's Degree
52,712 satisfied customers
We are working through a divorce settlement. We owned 2 properties
We are working through a divorce settlement. We owned 2 properties in QLD, both bought in my wife's name. We sold the family home and the plan is for my wife to keep that money and she is transferring… read more
Brisbane-Lawyer
Lawyer & Solicitor
Master
14,357 satisfied customers
I have set up an SMSF (say XYZ SMSF) with a corporate trustee
I have set up an SMSF (say XYZ SMSF) with a corporate trustee (ABC Pty Ltd). When I registered the SMSF on the Australian Business Register, I received back a registration document containing an ABN, … read more
Leon
Solicitor
Master's Degree
52,712 satisfied customers
Hi, my housemate and I bought a property a few years ago, how
Hi, my housemate and I bought a property a few years ago, how can I sign over my half of the property to him? Will there be stamp duty applicable? I live in perth thanks… read more
Leon
Solicitor
Master's Degree
52,712 satisfied customers
Hi - My mother and I are the titles/ownership to a property
Hi - My mother and I are the titles/ownership to a property in Regional Qld. I realistically went on the property as an owner to help secure the finance and assist paying the repayments whilst she got… read more
Patrick H.
Lawyer
5,422 satisfied customers
Hello Just Answer Team, I have some questions regarding Australian
Hello Just Answer Team, I have some questions regarding Australian Superannuation Law, I am going through an ATO audit at the moment regarding a SMSF which was formed as a Deposit Account in 1996. I h… read more
Brisbane-Lawyer
Lawyer & Solicitor
Master
14,357 satisfied customers
NSW Real Estate Question Can I sell the following property
NSW Real Estate Question Can I sell the following property with just my husband's and my signature on the contract? My husband and I own 50% of an investment property. The other person who is 50% on t… read more
Brisbane-Lawyer
Lawyer & Solicitor
Master
14,357 satisfied customers
I am trying to effect a transfer of title from myself to our
I am trying to effect a transfer of title from myself to our retirement fund. I have paid the stamp duty and tried to lodge the transfer at the titles office but the document (form 1) was rejected as … read more
Leon
Solicitor
Master's Degree
52,712 satisfied customers
Want to change an existing property in Qld from Joint tenants
Want to change an existing property in Qld from Joint tenants to Tenants in Common. Is there a fee/tax for changing this?… read more
Deborah Awyzio
Principal Accredited Family Law Speciali
Bachelor's Degree
863 satisfied customers
may a smsf trustee using an installment warrantpurchase business
may a smsf trustee using an installment warrantpurchase business real property sect 66(5) from a related party?if not why not ?… read more
Maurice
Lawyer
Master's Degree
1,980 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
52,712 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
52,712 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.
