All Topics / Help Needed! / NSW Stamp Duty 2008 budget changes

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  • Profile photo of Zoe JonesZoe Jones
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    @zoe-jones
    Join Date: 2007
    Post Count: 47
    February 9, 2008 - 11:24 am

    Can someone please clarify the changes to NSW stamp duty in June 2008? Is it only the mortgage duty that is being abolished on investment properties or stamp duty as well?
    Thanks!

    Profile photo of TerrywTerryw
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    @terryw
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    February 9, 2008 - 12:57 pm

    I think it is only stamp duty on mortgages – not land unfortunately

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of Zoe JonesZoe Jones
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    @zoe-jones
    Join Date: 2007
    Post Count: 47
    February 10, 2008 - 2:55 am

    Thanks Terry,
    That's only a negligible amount, so not worth waiting until July for a property purchase then. Even though the rental market in Sydney is a mess (only one unit listed for lease in my suburb, and I hear in Canberra they are now auctioning rental properties!). But obviously the NSW government can't afford to drop stamp duty on investment properties and encourage investment.
    Cheers

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