Stamp Duty Increase on Foreign purchasers of property
We wish to advise that the reported 3% stamp duty surcharge on foreign purchasers has been increased as per recent updates by the State Revenue Office for the state of Victoria only.
Please refer to the following for additional duty rates:
- For contracts, transactions, agreements and arrangements entered into on or after 1 July 2015 but before 1 July 2016:
- the additional duty rate is 3% (even if the settlement date is on or after 1 July 2016).
- For contracts, transactions, agreements and arrangements entered into on or after 1 July 2016:
- the additional duty rate is 7%
It’s Tax Time
Before you instruct us to do your detailed Depreciation Schedule, we can tell you how much your tax deduction will be.
Then… you can decide if we provide value for money.
So if you have…
- Acquired an investment property of any age, type or in state of repair;
- Completed any construction works;
- Completed a fit out;
- Had a tenant leave your property and you have inherited their fit out;
- Had a tenant leave your property and you have removed their fit out and made good;
- Paid any $ towards a tenant fit out. Continue reading
