Re Withdraw lumpsum with transfer property on 05/10/2023
Client asked SRO and they reply as below
"In response to your email, there is an exemption under Section 41A of the Duties Act 2000 – transferring from Superfund to beneficiary for no concession.
Please refer to the attached link https://www.sro.vic.gov.au/evidentiary/property-passing-beneficiaries-superannuation-funds for the requirements."
I read the link and see the link stated "The exemption only applies to the extent of a beneficiary's entitlement to the property of the trust. "
Is it mean only exempt stamp duty transfer to bare trustee without exemp to transfer personal name?
OR is it mean included exempt to transfer personal name? Please help
Hi Phuong
I understand you are referring to the Victorian stamp duty rules.
My understanding is if a SMSF transfers property to a member in-specie for no consideration there is no stamp duty re Victorian properties.
As I noted previously this should be confirmed by the lawyer doing the conveyancing of the property.
Thanks
The Auditors Institute