The transfer of property from one joint tenant to the other joint tenant will trigger CGT and stamp duty issues. This is because the other joint owner will increase their ownership by the interest of the other owner.
There may be a CGT exemption if the property is your main residence. Furthermore, some states provide for a stamp duty exemption for your main residence. However, if it is an investment property, or not your main residence, then CGT and stamp duty will be triggered.