reselling under contract

[rocketrod]

hi i have just signed to purchase a property for ex dollars and 3 months to settle its now locked in , but now with the interest thats going on around that area i want to resell it and put it straight into the name of the new buyer , that way i dont pay stamp duty . the problem i have is my realestate agent has never herd of this being done , can anyone help
cheers rod

 

[Ausprop]

I resell whilst under contract all the time... however there is no chance of avoiding the stamp duty

go to another agent if he wont do it

 

[rocketrod]

while under offre

thank you your info is correct i remebered reading it in a book and have been back to do more reading and it says exactly that no way to aviod stamp duty, but also states the c/g will be at 48.5% on the profit is this what you have had to experience?

 

[letiha]

The Capital Gains will be dependent on what you taxable income is to start with and was your profit is on top of this. Have a look at the tax tables, will not be 48.5 because the highest tax rate is no longer that high.