All Topics / Legal & Accounting / Vendor Finance – Stamp Duty

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  • Profile photo of Jeff SallyJeff Sally
    Member
    @jeff-sally
    Join Date: 2010
    Post Count: 13
    February 2, 2010 - 1:31 am

    Hi there

    Just wondering how stamp duty (Qld) is factored into the equation with Vendor Finance. Who pays for it & how.
    Trying to crunch numbers for our first VF deal.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    February 2, 2010 - 2:34 am

    The Buyer (wrappee) is responsible for his / her Stamp Duty and it is payable on the Instalment Purchase price payable 30 days after the Contract becomes unconditional.

    Of course depending on the sale price and the status of the purchaser they maybe exempt if it is a First Home.

    Richard Taylor | Australia's leading private lender

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