Parties to the breakdown of a marriage or de facto relationship may make a financial agreement under family law legislation to transfer property between the parties. A transfer of land made in accordance with such a financial agreement is charged with nominal duty of $20.
Currently, nominal duty applies to Family Court Orders following the breakdown of a marriage or de facto relationship, and the resultant transfers of land are exempt from duty. The amendments will reverse how the duty is applied, with nominal duty applying to the transfer of land rather than the order for the transfer. This will align the treatment of Family Court Orders with financial agreements made under family law legislation.
This change will come into effect on the day after Royal Assent.
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