Stamp Duty
Stamp duty is payable when registering a Bare Trust. Set out below is a summary of the likely stamp duty amounts payable:
- Victoria– Nil
- New South Wales– $50
- Queensland– Nil
- Tasmania– $20
- Australian Capital Territory– $200
- South Australia– Nil
- Western Australia– Nil
- Northern Territory– $20
SMSF regulations when acquiring property
The ATO is concerned about Trustees not following the rules when purchasing property in a SMSF. A SMSF can’t purchase residential property from a related party, even when using a unit trust. For more details see the Taxpayer Alert TA 2012/7.
Trustees should be aware of property promoters trying to use your Super for purchasing property. Make sure setting up a SMSF is right for you. Good advice is available from www.moneysmart.gov.au
For a Q&A on property examples in an SMSF, follow this link to the ATO guidance document: