G'day All,
I have an acquaintance who is about to be hit for penalty rates on non payment of stamp duty on the transfer of land for a property purchase he is making in Qld.
He has arranged an extended settlement of some 6 months, but he has been told by his solicitor and the office of State Revenue that stamp duty on the transfer of land is payable as soon as the contract to buy goes unconditional. As settelement has not taken place yet, the penalty rates kick in effective from today.
This does not sound correct to me.........your thoughts please.
Cheers,
Ian.
I have an acquaintance who is about to be hit for penalty rates on non payment of stamp duty on the transfer of land for a property purchase he is making in Qld.
He has arranged an extended settlement of some 6 months, but he has been told by his solicitor and the office of State Revenue that stamp duty on the transfer of land is payable as soon as the contract to buy goes unconditional. As settelement has not taken place yet, the penalty rates kick in effective from today.
This does not sound correct to me.........your thoughts please.
Cheers,
Ian.