All Topics / Help Needed! / Stamp Duty

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  • Profile photo of beebee
    Participant
    @bee
    Join Date: 2004
    Post Count: 5
    April 6, 2004 - 9:30 pm

    Could anyone please help.
    We leased a property 5 years ago with a purchase price set in the lease agreement and now the value of the property has neally doubled. Do we pay stamp duty on the price set in the lease contract or the value of the place now????
    Thank-you in advance to anyone who can help.

    Profile photo of crjcrj
    Participant
    @crj
    Join Date: 2004
    Post Count: 618
    April 6, 2004 - 9:38 pm

    The original price. However, speak to a solicitor. There are a couple of traps that competent advice should avoid. Also in some states eg NSW if the purchaser is related to the vendor the OSR requires a valuation.

    Profile photo of beebee
    Participant
    @bee
    Join Date: 2004
    Post Count: 5
    April 6, 2004 - 9:53 pm

    Thnk-you for your prompt reply.The solicitor is thinking stamp duty is required on the new value.We are QLD and it is a relation.
    Thank-you once again.

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