Stamp Duty in Qld

[Roo]

Hi,
I have just purchased a property in Hervey Bay and there are tennants living there who have a lease until Feb 09.

We purchased this property as an IP with a view to rebuild on the block in 5 years or so. We currently rent by choice.

The 'banker' has mentioned to me that there is extra stamp duty payable if the property is an IP - does anybody know if this is so, considering we cant move in even if we wanted to?

Thanks

 

[Novar]

It's correct
Investment properties attract high stamp duties, quite a bit, about double I think

 

[vbplease]

here is a handy calculator to see the difference..

http://www.infochoice.com.au/distributions/10162/stampduty.asp