Stamp duty

Discussion in 'Commercial Property' started by Andrew1964, 12th Jul, 2020.

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  1. Andrew1964

    Andrew1964 New Member

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    If you buy a company that owns commercial realestate do you still pay stamp duty fees?
     
  2. Mark F

    Mark F Well-Known Member

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    I believe no, but when buying a company you inherit any unpleasantness from its past, legal issues, compliance, tax etc.
     
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    Mark F likes this.
  4. Mark F

    Mark F Well-Known Member

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    Well, that rings a dim, distant bell. I shouldn't rush to the simple solution, there is always a twist.
     
  5. Terry_w

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

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    What state is the land in and what value?
    It's risky to buy a company too
     
  6. Andrew1964

    Andrew1964 New Member

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    Interesting replies, thanks.

    The state is Western Australia.
    Value is approximately $2,000,000
    A couple of acres with commercial buildings.
     
  7. Terry_w

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

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    Don't know off the top of my head but likely ad valorem duty
     
  8. Property Guts

    Property Guts Well-Known Member

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    i would rather pay the stamp duty, than inherit unknown risk