I was just flicking through the Duties Act 2000 and I noticed S.36, which (to my reading) states that no stamp duty is payable when a property is transferred from a trust to one of the beneficiaries of that trust.
Have I read this right? Many people are familiar with the ability in Victoria to transfer between husband and wife without paying stamp duty, but I've never heard of a trust-to-beneficiary exemption from stamp duty before?
I can't think of any specific benefits of this off the top of my head, particularly if it's a discretionary trust, but perhaps it's useful to some people.
Cheers
Jonathon
Have I read this right? Many people are familiar with the ability in Victoria to transfer between husband and wife without paying stamp duty, but I've never heard of a trust-to-beneficiary exemption from stamp duty before?
I can't think of any specific benefits of this off the top of my head, particularly if it's a discretionary trust, but perhaps it's useful to some people.
Cheers
Jonathon