NSW Stamp Duty Rates

[Cales405]

If I placed a deposit on a block of land for owner occupied purposes and could not settle and had to sell prior to settlement, would I pay the investment or owner occupied stamp duty rate, also I would be making a loss on this property and claiming as a capital loss.

 

[buzzlightyear]

You have answered your own questions. The land was bought to obviously build a PPOR, your stamp duty would therefore be based on an owner occupied level (whatever that is in NSW). As a result, any loss cannot be claimed on your tax return.

 

[bluestorm]

buzzlightyear makes an excellent point.

You either
1) treat it as an investment, pay the investment stamp duty rate, and then claim losses on tax, or
2) treat it as a owner occupied, pay the owner occupied stamp duty rate, and DON"T claim losses on tax (just as you would not pay capital gains).

You can't have a bit of both.

 

[Cales405]

Thanks guys for making that clear.

 

[Propertunity]

....would I pay the investment or owner occupied stamp duty rate?

In NSW there is no difference.