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From: Hiram Ng
Here's an interesting one for the experts:
1) If a property is sold well below market value, and I mean WELL below, how is stamp duty calculated:
-On the contract of sale price
-On the price actually transferred (if you have rebates in the contract etc)
-On the market value.
2) Lets say a company owns a $1 mill property and nothing else. I want to own the property. Instead of buying the property I buy the company. Stamp Duty on company transfer of $1 mill is $6000. But if I bought the property, stamp duty on 1 mill is $60K and more depending on your state. What do you guys think?
Cheers
Hiram
Here's an interesting one for the experts:
1) If a property is sold well below market value, and I mean WELL below, how is stamp duty calculated:
-On the contract of sale price
-On the price actually transferred (if you have rebates in the contract etc)
-On the market value.
2) Lets say a company owns a $1 mill property and nothing else. I want to own the property. Instead of buying the property I buy the company. Stamp Duty on company transfer of $1 mill is $6000. But if I bought the property, stamp duty on 1 mill is $60K and more depending on your state. What do you guys think?
Cheers
Hiram
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