All Topics / Help Needed! / stamp duty help

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  • Profile photo of pointblankpointblank
    Member
    @pointblank
    Join Date: 2005
    Post Count: 2
    February 10, 2005 - 2:18 am

    Good morning all,

    I work in development finance in Victoria, and am
    wondering if there is some sort of loophole in stamp duty? Is there a way to reduce the amount of stamp duty paid?

    I have been seeing many projects with 1-5% allocated for stamp duty, (2.xx% being most common). How is this possible? I cant seem to get a straight answer from co-workers, and as I am new to the workforce I have no clients to ask as yet. This is puzzling me!

    Thanks

    Profile photo of crjcrj
    Participant
    @crj
    Join Date: 2004
    Post Count: 618
    February 10, 2005 - 3:34 am

    I would suspect that this is because Victoria where a building is only partly completed will charge on the value of the land plus percentgae of building works

    try a search on http://www.sro.vic.gov.au

    Profile photo of pointblankpointblank
    Member
    @pointblank
    Join Date: 2005
    Post Count: 2
    February 11, 2005 - 4:35 am

    thanks for the reply, though thats not the case as the purchases are on land/completed buildings.
    Still puzzled! [confused2]

    Profile photo of spaldospaldo
    Member
    @spaldo
    Join Date: 2005
    Post Count: 10
    February 11, 2005 - 6:15 am

    ive seen situations where the builder or developer may offer stamp duty concessions where they might pay the difference themselves out of their own profits. Have you got a particular example for us to look at? Although youd have to talk to the developer and find out how they came to that result.

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