Stamp Duty Lawyers Sydney

Understand your stamp duty obligations and access valuable concessions with expert advice on property transfers in NSW.

Stamp duty, now known as transfer duty, is one of the largest costs in any property transaction handled through our property and conveyancing team. On a substantial property, standard duty can run into tens of thousands of dollars. In some cases, however, concessions can dramatically reduce this cost. Our property lawyers advise on your stamp duty obligations and help you access every concession you are entitled to.

Understanding Stamp Duty in NSW

Transfer duty is a state tax payable on most property transfers in NSW. Key points:

Who pays: The buyer, in most cases
How it’s calculated: On a sliding scale based on the property’s value
First home buyers: May qualify for an exemption or reduction — see our guides on stamp duty vs land tax for first home buyers and the First Home Buyer Assistance Scheme

The SMSF Stamp Duty Concession

A valuable concession applies to certain SMSF transfers. Under section 62A of the Duties Act 1997 (NSW), an eligible transfer from a member into their SMSF attracts a fixed concessional duty instead of the standard rate.

The potential saving is substantial:

Standard duty on a $1 million property: typically over $40,000
Concessional duty under section 62A: a fixed $750

Our guide to the $750 fixed rate for SMSF transfer duty explains how the concession works in practice.

Strict eligibility conditions apply, and incorrect documentation can result in the concession being denied. Careful structuring and correct lodgement with Revenue NSW are essential.

How V.S. George Lawyers Can Help

On any dutiable property transaction, our team will:

Assess your transaction and confirm which duty rate or concession applies.
Structure the transfer to access every exemption and concession you are entitled to.
Prepare and lodge the required documents with Revenue NSW correctly.
Ensure the eligibility requirements are satisfied so a claimed concession is not denied.

Ready to speak with our team? Visit our contact page or call 02 9150 6991 to arrange a confidential discussion.

FAQs

Is stamp duty payable when transferring property into an SMSF in NSW?

Yes, but a significant concession applies. Under section 62A of the Duties Act 1997 (NSW), eligible transfers of property from a member into their self-managed superannuation fund attract a fixed concessional duty of $500, rather than the standard ad valorem rate. On a $1 million property, standard duty would typically exceed $40,000.

What are the eligibility requirements for the SMSF stamp duty concession?

Two conditions must be met. First, the property must be held solely for the benefit of the transferring member or members, in the same proportions as they held it before the transfer. Second, the property must be used solely to provide a retirement benefit to those members. If the property or its sale proceeds could be pooled with other members’ assets, the concession will not apply.

Does the stamp duty concession apply if my SMSF has more than one member?

It can, but the rules are stricter. If multiple members are transferring the property, each member’s interest must remain separate and cannot be pooled with other members’ funds or assets. The property must benefit only the transferring members, in the same proportions as their prior ownership. Legal advice is strongly recommended if your fund has more than one member.

Can I transfer residential property into my SMSF with the stamp duty concession?

Generally no. Superannuation law restricts what types of assets an SMSF can acquire from members. Residential property cannot be transferred into an SMSF from a member or related party. The concession is typically relevant to business real property, which can be transferred into an SMSF under the superannuation rules.

What documents are required to claim the SMSF stamp duty concession in NSW?

Revenue NSW typically requires a transfer form, statutory declarations from the members, and evidence that the eligibility conditions are satisfied. If the SMSF is borrowing to acquire the property through a limited recourse borrowing arrangement, a custodian trust deed is also required and attracts an additional duty of $500 under section 62B of the Duties Act 1997 (NSW).

Do I need a solicitor to transfer property into an SMSF in NSW?

Yes. The eligibility requirements are technical, and incorrect documentation can result in the concession being denied and standard duty becoming payable. A solicitor experienced in SMSF transfers can confirm eligibility, prepare the required documents, and lodge the application with Revenue NSW correctly.