- ChattawayParticipant@spechaJoin Date: 2015Post Count: 28
I am wondering wether this is true. I have heard that in SA stamp duty is calculated off of the purchase price and not the value. Is this correct as I am running figures on a favourable purchase. ThanksScottsdaleParticipant@scottsdaleJoin Date: 2011Post Count: 63
The amount of stamp duty you are required to pay is assessed on the purchase price or the market value of the property at the date of settlement, whichever is the greater.Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
Stamp duty is always paid on the amount of consideration rather than the valuation amount.
Imagine if the State Govts only being able to be charge duty on valuation amounts. In parts of Sydney / Melbourbe where valuations don’t stack up on Off The Plan properties they wound go broke !!!
Yours in Finsnce
0-40 properties in a decade. Ask me how.Jamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069
I am wondering wether this is true. I have heard that in SA stamp duty is calculated off of the purchase price and not the value.
The exception being if you purchase from a friend/family at less than market value. In those instances – you’ll need to carry out a valuation for duty purposes.
If building a property – duty is charged on the land value (not the entire land + construction costs).