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253 locum work, transferring property to family, my portfolio has lost money, salary packaging + more
Dev Raga Personal Finance
Transferring Property to Family Members Without Stamp Duty
There are two main ways property can be transferred to family members. Number one is you can gift property to family members, but this usually involves filling out paperwork. The other way to transfer property is to just sell it to your family member. You could simply sell it at the market value. Now, stamp duty has to be paid. And capital gains tax will also likely apply if it's not your principal place of residence. Do you need a formal property valuation, even if gifting or selling to the family member? And the answer is yes.
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