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Thanks BT......I believe my friend will be paying transfer duty this coming week, if he hasn'yt already. Your point though is taken onboard as I will be buying in Hervey Bay shortly myself. Cheers, Ian.

G'day All, Thanks for the replies everyone. Just played around with the calculator on the OSR site and threw in a nominal $800,000 purchase price and payment 6 months after due date so penalty interest of $1106. Not real pleasant, but if it gives you the six months to settle on the place...

Thanks BT & UC, So to clarify.....once a contract to buy a property is signed by both parties it is considered as 'executed' and therefore transfer duty is payable within 30 days. In essence you can have settlement in 6 months time if you want but you have to pay transfer duty pretty well...

G'day All, I have an acquaintance who is about to be hit for penalty rates on non payment of stamp duty on the transfer of land for a property purchase he is making in Qld. He has arranged an extended settlement of some 6 months, but he has been told by his solicitor and the office of...