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NSW Stamp Duty ChangesNOSAJ [2 Posts] Does anybody know how the NSW stamp duty changes on the sale of investment property will affect Wraps. I am thinking the wrapper will have to pay it when selling to the wrappee, however, am still waiting on legal opinion. Has anyone else considered this situation ?????   walkernick [77 Posts] Hey JB, This is something I am wondering also - I'm surprised it hasn't been discussed more here. As there is no new contract at the end of the wrap when title officially passes, I would imagine the new stamp duty couldn't be due then - it must be due when the Instalment Sales contract is drawn up, at the start. However I am no lawyer (yet - only one in training!) so it would be great to hear the advice you receive. I think the sticking point is that the new duty only applies to sales where a 12% profit as a minimum is made. So if you arrange your wrap so that the markup is say 11.9%, (and then have a higher interest rate markup) then you won't have to worry. Look forward to seeing what other NSW wrapper's think... Nick |
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