A partition occurs when dutiable property comprised of land in NSW that is held by persons jointly (as joint tenants or tenants in common) is transferred or agreed to be transferred to one or more of those persons. The dutiable value of a partition is the greater of:
a) The sum of the amounts by which the unencumbered value of the land transferred to a person by the partition exceeds the unencumbered value of the interest held by the person in the land transferred to each person by the partition immediately before the partition, and
b) The sum of any consideration for the partition paid by any of the parties.
The minimum duty charged on a document that affects a partition is $50.
From 1 January 2009 the minimum duty charged on a document that affects a partition is $50.