Stamp Duty paid within 3 months of settlement. VIC

[JohnAJones]

The Vic gov website page "Taxes and Duties" clearly states (under Land Transfers) that:

"The purchaser is liable to pay the duty within 3 months of settlement".

Now I presume most people pay at settlement when all the monies criss-cross.

Is 3 months possible?

 

[JohnAJones]

I spoke to State Revenue Office and was told that the 3 month window is mainly for the banks to batch up transfers. I don't think she really knew 100% the ins and outs but it seems to not be a practical way of putting off Stamp Duty payment for 3 months. Cash flow for the business is the objective.

Any tax gurus here?

 

[jrc]

Three months would be possible if you were not getting finance. What are you going to save? It seems to me like you would only save $100-$200 over 3 months. Is that worth the risk of losing or destruction of the title documents and transfer before you get registered as owner?

 

[A Jackson]

Its the same for cars.
The buyer pays on settlement (Delivery) and the dealer pays the government at the start of the next month for all the transactions from the previous month.