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Stamp duty would be on market value, even if the property gifted - so why gift. I have found the OSR (NSW) want to see evidence of a valuation where they know it is related party transaction (and where there is no exemption from duty).

From a legal POV you would want to transfer at market values well as under the bankruptcy laws under market value transactions get special attention - similar under succession laws. Also under tax laws you would want to be able to maximise deductions of interest on any loans.