Hi , I am currently in the process of buying a house from my sister . My question is are there any advantages in terms of stamp duty reductions or anything of a similar nature ? Cheers
Evening Pappy
Just doing something similar by buying my sisters shares from a deceased estate. I am buying into a trust. If you are not on the land title then you are up for the whole stamp duty. State Revenue does not miss a beat here. However your legal costs can be reduced. Instead of a contract of sale, we have a "transfer between related parties by way of valuation". I needed a property valuation that was for stamp duty purposes and addressed to them. The cost will be less then the price of a contract of sale for one of the parties.
Cheers
Michael
You must be logged in to reply to this topic. If you don't have an account, you can register here.
