Stamp duty exemption applies to married couples and to partners of a de facto relationship. The exemptions are available if the parties enter into consent orders,bidning financial agreement under the Family Law Act 1975 or by court orders.
The matters that the Family Court looks at in a property settlement are set out in section 79 and section 75(2) of the Family Law Act. There are three main things that the Family Court looks for when it is making a decision about a property settlement.
The Court must be able to find out what assets are owned by each of the parties. This includes details of the current market value of things like land, bank accounts and superannuation. It may be necessary for some assets to be valued by an expert. It does not matter when the asset came to be owned.
The Court needs to find out all of the contributions that have been made to the assets and to the marriage generally. The types of contributions that are important are set out in section 79(4) of the Family Law Act
It is important to understand that contributions as a homemaker and a parent are seen as very important contributions. In most cases where the marriage has been a long one, they are seen as equal to financial contributions.
The Court looks at what the future holds financially for each of the parties. These matters are set out in Section 75(2) of the Family Law Act.
Some examples are:
The Court gives the party whose financial future is not as good as the other, some extra part of the property owned by the parties.