Victorian Off the plan Stamp duty changes

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From: Hiram Ng


Hi,

I just heard than on 30th July (37 days ago), the stamps duty act in Victoria changed.

Previously all purchasers who purchased off the plan only paid stamp duty on the land price or the value of what construction was up to.

Now I hear that only the FIRST purchaser from the developer gets this concession. All other buyers have to pay the full completed stamp duty.

This will cut out the flippers from the market and onsellers as it makes it a lot less attractive to the onsold buyer.

Has anyone else heard this?

Cheers

Hiram Ng
 
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Reply: 1
From: Dave :)


Hi Hiram,

Thanks for the post. Can you post a link to the article or legislation
in question on the forum?

Cheers,

Dave
:)

{Life's short...play hard}
 
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Reply: 1.1
From: Jude H


Rang the State Revenue Office, they inform me that the above information is INCORRECT. All purchasers who buy off the plan are eligible for the stamp duty savings. No amendment was made on July 1st.

Jude

~ Never take no for an answer from someone not empowered to say yes ~
 
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Reply: 1.1.1
From: Dave :)


Thanks Detective.

:)

Where did you get your info from Hiram?
 
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Reply: 1.1.1.1
From: Hiram Ng


Thanks for your help guys.

I actually heard it from a property solicitor.

But may be the communication got mixed up somewhere.

Cheers

Hiram
 
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Reply: 1.1.1.1.1
From: Sergey Golovin


Hiram,

They might introduce changes as soon as Federal Election is over. But then again we have to wait till the end of Parliament and School Holidays, and then X-mass, most likely probably next year 2002 (?).

Serge.
 
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Reply: 1.1.1.1.1.1
From: Paul Zagoridis


Stamp Duty is in the State Government area. So the Federal election is not a major factor there (except in the usual State vs Commonwealth funding battles and normal party politics).

Paul Zag
Dreamspinner
Oz Film Biz is at
http://www.healey.com.au/~paulz
 
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Reply: 1.1.1.1.1.1.1
From: Sergey Golovin


Yes, thanks Paul.

I do get carried away down here.

Yes, it is those extra $7,000 I am thinking of, not stamp duty.

Serge.
 
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