My mother’s deceased estate has been left in equal shares to three beneficiaries, A, B and C. The estate has a probated value of $3,000,000, comprising the family home ($1,500,000) plus cash ($900,000) and shares ($600,000). Beneficiary A, with the agreement of the other two beneficiaries, wishes to take possession of the family home, and to do so pay them $500,000 (being the excess of his one-third entitlement in the estate). It was expected that stamp duty on the house transfer would be based on the concessional rate ($50) for his one-third entitlement in the estate of $1,000,000, and at the regulated rate for the $500,000 excess. The NSW Office of State Revenue however has instead directed that only the first $500,000 can be at the concessional rate, with the balance $1,000,000 attracting the full regulated rate. An objection to that ruling has (so far) been dismissed. Is the NSW OSR correct in its interpretation that each asset in the estate must be divided equally among the beneficiaries (thereby increasing the stamp duty on transfer of the house to a single beneficiary), rather than the total value of the estate being distributed in whatever manner the beneficiaries agree (providing that each still receives their one third entitlement)? Many thanks.