Stamp duty — land transfer duty — is usually paid at settlement and forgotten. Then, sometimes years later, the SRO reassesses: a first home buyer or principal residence concession is withdrawn because a residence condition was not met, a transfer between family members is treated as dutiable, or foreign purchaser additional duty is said to apply. Reassessments often arrive with interest and penalty tax on top.
Part of our tax & State Revenue practice.
We work out exactly which condition the SRO says was not met, and whether that is actually right on the facts.
Residence conditions can have exceptions for circumstances outside your control. We identify whether one applies and put the evidence together.
We object where the reassessment is wrong, and seek remission of penalty tax and interest where the duty itself is payable.
Concessions and exemptions often come with conditions — most commonly that you move in and live there for a set period. If the SRO’s records suggest a condition was not met, it can reassess and ask for the duty back, with interest.
It can be. Some transfers between spouses and family members are exempt or concessional, and some are dutiable in full. It depends on the relationship, the property and the circumstances. Get advice before the transfer, not after.
Often, yes. The Commissioner has a discretion to remit penalty tax and interest, and a well-made case — especially where the error was genuine or you came forward yourself — can make a real difference.
General information only — for advice about your situation, book a consult or call us.
Speak with a lawyer who acts in State Revenue Office matters across Victoria — book online, or call us.
