When is Stamp Duty due?

Discussion in 'Accounting & Tax' started by Will Callaghan, 12th Oct, 2021.

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  1. Will Callaghan

    Will Callaghan Well-Known Member

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    Hi all,

    I have a client who’s buying an investment property in Central Qld.

    He asked me today when the Stamp Duty due date is.

    He was told within 30-days after settlement.

    I couldn’t answer - so thought I’d ask the knowledgeable bunch here.

    Any thoughts?

    Will
     
    Will Callaghan, 12th Oct, 2021
    #1
  2. Terry_w

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

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    If the property will be mortgaged it will be at or before settlement.
     
    Terry_w, 12th Oct, 2021
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  3. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Lenders will ensure a buyer already has their funds to pay the deposit and duties before they advance a cent.
     
    Paul@PAS, 12th Oct, 2021
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  4. Will Callaghan

    Will Callaghan Well-Known Member

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    Thanks,

    I assume my client has the funds and just wants to delay it as much as possible.
     
    Will Callaghan, 13th Oct, 2021
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  5. Terry_w

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

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    You would need to be a solicitor to advise a client on stamp duty
     
    Terry_w, 13th Oct, 2021
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  6. Will Callaghan

    Will Callaghan Well-Known Member

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    Agreed.
    ...and i'm not about to go back to uni to do that!
    W
     
    Will Callaghan, 13th Oct, 2021
    #6