Hi folks… I posted a question some time ago and got no replies, so I’ve been trying to wade through all the government’s online tax info. But I just can’t find anything on it, without even knowing what it’s called. (There’s so many things the government takes tax for, I can’t tell them apart after a while.) [blink]
Does anyone know what that recent NSW tax change is named? The one where investors will have to pay a percentage in tax when they sell, on the total sale price – not the capital gain – and even if the property were to reduce in value?
Thanks for reading…
Allan.
Hi Allan,
The tax is commonly called an ‘exit tax’ but is more correctly referred to as ‘vendor duty’
http://www.osr.nsw.gov.au/pls/portal/docs/page/downloads/other/vendor_duty_factsheet.pdf
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Some might say its called the
“Don’t buy investment properties in NSW Tax”
and i’m sure there are plenty of other names for it as well!!!
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