Off The Plan Investors To Pay Stamp Duty Upfront
In the 2017-2018 budget the New South Wales state government has announced that investors who purchase off the plan will be required to pay stamp duty immediately, rather than up to twelve months later.
The measure has been described by some as a way of not only increasing the government’s cash flow but also to give purchasers who are seeking to live in the premises somewhat a competitive edge.
This represents a possible shift in government policy where future policy could target investors who are driving up the property market. Read more in the Sydney Morning Herald.
Need legal assistance with your purchase or sale? We are renowned for our service when it comes to Property Law and Conveyancing. Contact Joe Vizzone and the team on 02 9667 1271 or email us.