stamp duty

From: Tracy Lee


Hi,

I have a question for people knowledgeable in tax and stamp duty.

We have purchased a PI off-the-plan with our business partner, 50% each share. The property is purchased in Victoria.

If we take over his share after the property is completed, are we liable to pay stamp duty on the 50% of the contract price?

Regards
Tracy
 
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Reply: 1
From: Kristine .


Tracy

For exact information, contact the State Revenue Office, at www.sro.vic.gov.au

I put through an email enquiry last week, and a very helpful officer rang me the next day and went through my enquiry in detail, explaining all the variables in the situation under question.

There have been significant changes to the application of duty in Victoria as from July 1, 2001, and I was right for prior to that date, but would have been incorrect afterwards.

Hope this is of some help

Kristine
 
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