I remember reading a book by a famous investor who said that with any change in government legislation comes opportunity. What opportunities may arise from Carr’s change in stamp duty and Land Tax in NSW? The main points being:
1.0% SD for first home buyers up to $500k
2.Sale duty on investment properties of 2.25%
What will be the short term and lomg term affects?[cap]You have to question if the market in Sydney will be a better CG over time to offset tax charges and secondly there may be some good buys comming when people panic.
When realestate prices drop people panic and pull out same as the stock market but if there was a 30% discount in a supermarket people buy???[blink]
I wonder if Queanbeyan will get a bit of a nudge along from the ACT first home buyers?
Might be worth a look.
Cheers
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hey Simon
Short answer. Nope, as ACT has also increased stamp duty concession (up to only $270K though).
Will be interesting to see what happens…
Cheers
Meli live in queanbeyan, and i seriously think prices are still over inflated (thank god i bought here 3 years ago). there is a brand new block of units across the road from me, been on the market for 8 months and none of them have sold, next door to me, same thing. one bedroom units being attempted to sell at 120k +, i think we are in for a large correction to the market here in queanbeyan. when the time is right, thats when i will buy in queanbeyan again.
cheers
shaunLead, Follow or get out of the bloody way
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