Hi all,
I have purchase a property in partnership with two other friends three years ago. Now, I am purchasing from other two partners. Is there anyway, I will get stamp duty exemption. For the amount of share I have paid before, please advice
Kind regards,
Hari yellinaHari Yellina
Email MeKeep Investing - Grow while Resting.
Generally the only time that you can transfer between parties without payment of stamp duty is where you are getting married & splitting a premarriage asset or likewise for a divorce.
Can you talk to the solicitor noting it was a menage a trois?
Another Stamp Duty Question, in 2004 I bought three seperate properties (flats) in the same building in Victoria and the State Revenue calculated the purchase as a single transaction more than doubling the stamp duty even though they were three seperate flats and contracts of sale.
Today I am looking at two units in a set of six in NSW each a seperate deal with two different agents. Will I pay the stamp duty per sale or will I again hit this same issue where the state revenue will lump the purchase prices together and base the tax on the total figure.
Lets face it, Tax offices never miss a trick.
If the seller is the same you would, or if associated persons.
See rev rulng DUT 36
http://www.osr.nsw.gov.au/lib/doc/rulings/rrdut36.pdfand s25 Duties Act
http://www.austlii.edu.au/au/legis/nsw/consol_act/da199793/s25.htmlTerryw | 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
Thanks, in that case yes, in this case no to seperate unrelated owners and two different selling agents.
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