If you are a first home buyer of a PPOR in WA you pay no stamp duty up to 500k then it ramps up to paying full stamp duty like anyone else at 600k.
Is the following legal / possible on a home? I guess I cannot see why in theory it is not but I wonder has anyone tried it, or heard of it being tried?
Make an offer on a home of 500k even.
Make an offer of 40k seperately for the appliances, curtains, trees that could otherwise be removed in the garden etc etc . It is probable that such things are worth perhaps 40k anyway? If necessary have the owners take all the curtains down, dishwasher oven etc then sold seperately, then I can move them all back in?
I cannot think of any reason why this would run afoul of the tax department? As long as I can demonstrate that this gear is worth to someone 40k, i.e. I am not payign 200k for a few old curtains and a dishwasher and AC unit....
It is a near 20% effective rate of tax on every dollar over 500k to a first home buyer so it seems the system is such that it encourage this in that 500k to 600k odd bracket!
Is the following legal / possible on a home? I guess I cannot see why in theory it is not but I wonder has anyone tried it, or heard of it being tried?
Make an offer on a home of 500k even.
Make an offer of 40k seperately for the appliances, curtains, trees that could otherwise be removed in the garden etc etc . It is probable that such things are worth perhaps 40k anyway? If necessary have the owners take all the curtains down, dishwasher oven etc then sold seperately, then I can move them all back in?
I cannot think of any reason why this would run afoul of the tax department? As long as I can demonstrate that this gear is worth to someone 40k, i.e. I am not payign 200k for a few old curtains and a dishwasher and AC unit....
It is a near 20% effective rate of tax on every dollar over 500k to a first home buyer so it seems the system is such that it encourage this in that 500k to 600k odd bracket!