All Topics / Finance / Farm Land closing costs

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  • Profile photo of possumpalpossumpal
    Member
    @possumpal
    Join Date: 2006
    Post Count: 48

    Hi

    I'm just looking at buying some farming land in Victoria
    Just wondering what to budget on for closing costs,
    Are they similar to residential property 5-7%?

    Cheers Tim

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856

    Stamp duty is dependent upon the size of the purchase ie sliding scale – you may need to check with your accountant if you can get exemptions for primary producers, registration for gst, correct structures for purchase etc.

    Talk to your lawyer/conveyancer as to the legal costs.

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