All Topics / Legal & Accounting / Stamp duty – to subdivide or not

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  • Profile photo of jwebjweb
    Member
    @jweb
    Join Date: 2005
    Post Count: 1
    May 23, 2006 - 11:30 pm

    I have a parcel of land that I can subdivide into two blocks (in Victoria). I want to sell one of the blocks but keep the other. Do I pay stamp duty on the creation of the new block? Should I consider gifting the second block to my son so that he can develop this in the years to come?

    Any helpful advice would be greatly appreciated.
    [strum]

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    May 24, 2006 - 1:01 pm

    No a stamp duty expense is not triggered once a property is subdivided.

    Richard Taylor
    Residential & Commercial Finance Broker
    **NODOC loans from 7.14%**
    Licensed Financial Planner
    http://www.yourstatefinance.com
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    Ph: 07-3720 1888

    Richard Taylor | Australia's leading private lender

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