can you avoide stamp duty in any way
R.Heasman
Ronnie,
One way to avoid stamp duty on the building is to buy off the plan. Even something as simple as putting down a deposit of $500 for a property before the slab is poured will do it.
Hope this helps,
Steve.ps: Are you a first home buyer? Some state governments are thinking about wiping out mortgage stamp duty for first home buyers.
“Knowledge is Power”
Steve.
I have just experianced my first taste of real estate success. Pulled off a wrap (as i have just found out what it was actually called) and have 145k in my pocket. So i am head down full throttle, but i am not one to go any where blind foldedgezzer.
Sounds like you’re in a great position Ronnie!
We’re all here so that you don’t have to go anywhere with your eyes closed [|)] When you have some idea of where you might like to put that 145k, feel free to ask any questions you may have.
Steve.
“Knowledge is Power”
Hi Steve,
still new to this, and cannot add past comments, but further to your response re buy off the plan to avoid stamp duty.
Do you know if this applies in Qld? as i was told that if you buy an investment property in Qld, you have to pay extra stamp duty?Hi missy,
Unfortunately I’m not sure. If I was to guess however, i’d say that the same rules apply (or at least something similar) in every state of OZ.
When you buy a block of vacant land anywhere in Australia, do you have to pay Stamp Duty on the building? Of course not, there isn’t one there! [
] Paying building stamp duty depends on how much of the actual dwelling has been built. eg: With just the slab down, building stamp duty might be 10% of normal rate. Slab down, wooden framing and roofing completed might be 60%. (These are examples only). Surely there would be similar rules Australia wide for this sort of thing.Perhaps someone from QLD can help us…?
Good luck!
Steve.“Knowledge is Power”
Sorry to disillusion you all, but I’m almost certain that the discounted stamp duty for OTP purchases is only available in Victoria – they seem to make up for it with killer rates for completed properties.
Cheers
Mel
] Paying building stamp duty depends on how much of the actual dwelling has been built. eg: With just the slab down, building stamp duty might be 10% of normal rate. Slab down, wooden framing and roofing completed might be 60%. (These are examples only). Surely there would be similar rules Australia wide for this sort of thing.
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