Delayed Settlement

[john2]

Hi,

I have found a PROP and have asked for a 4 month settlement. I would like to know when is the stamp duty payable on the property. Is it the date when we exchange contracts or the time when we settle which will be after 4 months. This property is in NSW.

Regards,
John

 

[Firsthomelooker]

My memory could be serving me wrong but I think it is 3 months from the date of exchange.

Edited to add: I was right http://www.osr.nsw.gov.au/portal/page?_pageid=33,63559&_dad=portal&_schema=OSRPTLT

Also just for interest if you have a shorter settlement period ie one month your bank (if you are borrowing for the purchase) will require stamp duty be paid before settlement