I've had a bit of conflicting information regarding savings on stamp duty doing this, can anyone confirm you get MORE stamp duty savings purchasing off the plan closer to completion than at planning stage and gradual progress? Is there a sliding scale?
Stamp duty is a state tax, so the rules vary from state to state. In NSW I think it will be levied just on the transfer value so no savings. In Vic in the past it was levied just on land value, but it may have changed.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi,
In victoria, i think you pay stamp duty on the value or cost of the already completed or constructed portion.
Only the remaining unbuilt portion is stamp duty free.
So, if a place is nearly complete, you nearly pay full stamp duty.
Frosty.
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