Why Transfer Property to Family?
Many Australians transfer property to children, spouses, or relatives for estate planning, asset protection, or to help with home ownership. Options include gifts, discounted sales, or adding names to title.
Families often work with professionals for smooth transfers.
Gifting property can provide security for the next generation.
Intergenerational transfers are increasingly common.
Common Methods of Transfer
- Gift (Love and Affection): No payment; often full stamp duty exemptions for principal residences in VIC/QLD.
- Sale Below Market Value: Partial consideration; may qualify for concessional duty.
- Adding to Title: As joint tenants or tenants in common—triggers duty on share transferred.
- Via Will or Trust: Post-death or structured for tax efficiency.
Adding family members to title for shared ownership.
Tax and Duty Implications in 2025
Capital Gains Tax: Transferor may pay CGT (main residence exemption possible); recipient inherits cost base.
Centrelink: Gifting rules can affect aged pension eligibility (5-year deprivation period).
Other: No GST on private residences.
Careful planning avoids unexpected tax burdens.
The Transfer Process
- Obtain valuation (for duty/CGT purposes).
- Prepare Transfer document (Form 1 in VIC/QLD).
- Lodge with revenue office for duty assessment.
- Register new title with land registry.
- Update council rates, utilities, and insurance.
Professional review ensures correct documentation.
Expert Conveyancing for Family Transfers
Family transfers involve emotional and financial complexities—specialist conveyancers handle exemptions, valuations, and compliance to minimise costs and risks.
For fixed-fee related party and family transfer conveyancing in Victoria and Queensland, consider First Class Legal. They specialise in seamless, supportive transfers.
A successful family property transfer brings peace of mind.