Stamp duty on inherited property victoria
Property You don’t pay Stamp Duty , Income Tax or Capital Gains Tax on a property you inherit when you inherit it. You may have to pay Inheritance Tax if the deceased’s estate can’t or doesn’t pay. The stamp duty land tax (SDLT) surcharge can now apply to additional residential properties and inherited properties can be relevant. In the ACT, while there is no exemption from stamp duty , concessional duty of $will be charged on the transfer of property by a legal personal representative to a beneficiary of a deceased estate. The basic requirements to access the concessional rate are the same as in Victoria. What is stamp duty in Victoria? Do you pay stamp duty on inheritance? Can I Sell inherited property? Where dutiable property is transferred in accordance with the terms of a will or codicil it may be exempt from duty under section of the Duties Act. You are being charged which is the higher rate of stamp duty land tax (SDLT) for transactions up to £...