Stamp duty savings for OTP

[fredo]

I know Melbourne have stamp duty savings for OTP purchases
QLD dont have this arrangement what about the other states
Any one knoe

Regards Fredo

 

[Mondie]

In NSW there isnt, SD applies to OTP and existing property equally. However the rates in NSW are lower than Vic so that compensates a bit.

Sorry, dont know about the other states.

 

[Les]

G'day Mondie,

I recall visiting a "seminar" (in NSW) where the promoter was selling at an "armchair developer" level. In the spiel, the subject of SD was raised, and the comment was that "Because we would be 'buying in' at the grass roots level, any SD would only be levied on the Land Value only".

Now, since I didn't go ahead at the time, I didn't do any more research. But your comment re NSW and SD indicates to me that maybe OTP and "armchair dev" are two completely separate things...... So, (I guess) my question would be "If you get in early enough - at armchair dev level, rather than as an OTP buyer, does this CHANGE the SD amounts levied???"

Or, could there be a way (in NSW) that SD could be minimised???

Interested in your (and others) thoughts on this one,

Regards,

 

[Mondie]

Hi Les,

l guess what the developer was doing was selling you the land and building as two seperate transaction so getting away from SD on the building component. No doubt two seperate contracts would be involved.

While l havent done this myself, it seems like the sort of thing you could do if you were dealing directly with the developer and not a RE.

Cheers Simon