Search results

I wonder if the new levy will have any affect on Agents selling fees... Now on the sale of a 500k property, not only do you have the 25% CGT levied on the profits, and the agents $12k+ selling fee (approx 2.5%), now you have the additional 2.25% sale levy (another $11k+) I wonder if this...

Hi Julie, I agree, and am hoping its a misprint in the release. The quote, however, was lifted verbatim from the speech, so maybe our esteemed leader got it wrong (wont hold my breath for an apology though :) ) Jamie.

Heres one part of the Budget Release that jumped out at me as being patently absurd, and doesnt seem to have been mentioned yet (regarding the 2.25% sale levy) ... So, in other words, to avoid the levy you need to have bought a house for 200k and sold it for less than 24k... Or... If...

The new land tax scale (with no threshold) is: $0 to $400k = 0.4% $400k to $500k = 0.6% Over 500k = 1.4% http://www.treasury.nsw.gov.au/bp03-04/minibudget/minibudget-04.pdf Jamie