First Home Buyer Stamp Duty Concession when tenants in common

Discussion in 'The Buying & Selling Process' started by leostarkz, 28th Jan, 2021.

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  1. leostarkz

    leostarkz Well-Known Member

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    Hello,
    Me and two of my friends are interested in buying a property in NSW as tenants in common. Two of us already own properties so are not eligible for stamp duty concession but my third friend is a first home buyer. We were wondering what's the implication on Stamp duty concession here.

    Thanks in advance.
     
    leostarkz, 28th Jan, 2021
    #1
  2. Trainee

    Trainee Well-Known Member

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    Really, really think hard about it.
    You will probably be assessed liable for the entire loan when going for further loans.

    you will be vulnerable if your friends stuff it up financially.
     
    Trainee, 28th Jan, 2021
    #2
    Pingu1988 likes this.
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Terry_w, 28th Jan, 2021
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  4. Lindsay_W

    Lindsay_W Well-Known Member

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    Won't qualify for the concession
     
    Lindsay_W, 29th Jan, 2021
    #4
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