Would vary from State so check with the OSR in your State.
(As an example in Vic there is no Stamp Duty when you transfer Title between husband and wife when the property is being used as an investment property).
Take Qld for example and dumadiscount's situation.
Current approx value...
An alternative is for one of you to look at buying out the interest of the other and borrowing to do so.
Whilst there maybe some additional stamp duty payable the interest on the funds borrowed will be Tax deductible once the property is available for rent.
We do a lot of loan restructure...