Forums / Getting Technical / Finance / QLD to abolish Stamp duty on Mortgages

Viewing 5 posts - 1 through 5 (of 5 total)
  • Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173

    Just got this from the latest Taxpayers Australia Newsletter:

    Mortgage duty (payable on entering into a mortgage over property in Queensland). To be abolished as to 50% on 1 January 2008, and in total 1 January 2009.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Stuart WemyssStuart Wemyss
    Member
    @stuart-wemyss
    Join Date: 2003
    Post Count: 598

    SA has also make some changes effective 1 July – http://www.revenuesa.sa.gov.au/circulars/c255.html

    However, Bob Carr decides to buck the trend and introduce stamp duty for refinances for loans > $1m. The States had to eliminate stamp duty because of the new GST revenue. NSW seems to be the only one dragging the chain!

    Cheers

    Stu

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,173

    That makes it hard for us NSWers! we have this stamp duty and the Vendor Tax. No wonder not many people are investing in NSW.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,010

    Terry

    Oh no with that news we are about to get invaded again with an influx of Southern migrants.

    I can see them queuing now at Cooloogatta to lodge their visa applications.

    Cheers Richard
    richard at castlewhite.com.au
    Email me for details of our Qld wrap CD which gives you a full Installment Contract.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Robbie BRobbie B
    Member
    @robbie-b
    Join Date: 2004
    Post Count: 2,493

    I think some serious stamp duty changes will occur very quickly when the Libs take the Senate. Howard hates it!!!

    TMA


    http://www.email4money.info
    Essential Links
    First Home Buyer Website


Viewing 5 posts - 1 through 5 (of 5 total)

You must be logged in to reply to this topic.