GrahamBinder replied to the topic Renovating for profit – Reducing Tax HELP PLEASE in the forum Legal & Accounting 14 years, 5 months ago
Hi Mav,You may have already considered this, but I'll throw it out there just in case. I know in QLD (I'm sure it's the same in SA, but do not know about other states), that even if the property is your PPOR, you will still have to pay Stamp Duty at a pro-rata full rate.To explain futher. When you buy as an investment, you pay full SD. When you…[Read more]
GrahamBinder replied to the topic I’m starting out, but I don’t want to be a risk in the forum Help Needed! 14 years, 10 months ago
Hi Rachie,For Stamp Duty, I don't know what state you are in, but I can tell you what happens in QLD. This may be similar to other states.If you gain the SD concession for a Principle Place of Residence (PPOR), then one of the conditions of this concession is to live in the place for 12 months. If you break this condition, then you are required to…[Read more]