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  • Profile photo of PengPeng
    Participant
    @digiroad
    Join Date: 2015
    Post Count: 4
    October 28, 2015 - 11:28 am
    Terryw wrote:

    What about the land tax in NSW!!

    Hi Terryw, That is the area I am confused. Is the land tax threshold applied to off the plan property? What if the property transferred to a unit trust?

    thanks,
    Peng

    Profile photo of PengPeng
    Participant
    @digiroad
    Join Date: 2015
    Post Count: 4
    October 28, 2015 - 11:22 am
    Jamie Moore wrote:

    Definitely get legal advice. Sounds like you may be up for duty again. Is it really worth it?
    What benefits will the trust provide over individual ownership?
    Cheers
    Jamie

    Hi Jamie, The reason to transfer to trust is that we consider establishing our investment portfolio as we have another off the plan prop to be settled in mid 2017. We did not thought through that well before the contract was exchanged last year. The stamp duty will be due for payment in January 2016. Is the duty payable again if the transfer is made before January 2016?

    thanks,
    Peng

    Profile photo of PengPeng
    Participant
    @digiroad
    Join Date: 2015
    Post Count: 4
    October 27, 2015 - 8:55 am

    The property is in NSW and will be settled in late 2016.

    Thanks Steve and Terryw for reply!

Viewing 3 posts - 1 through 3 (of 3 total)