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Better let your friend know that they are liable for stamp duty...

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kramer1

58 Posts.

7

13/07/18

11:31

Post #: 34323426
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Originally posted by makingmoneystill ↑

Yes that's right, I spoke to a friend last night,

He has about 12 properties and last year he got a land tax bill of something in the order of $80 k,

He told me he had just finished setting up trusts for each property,

I'm thinking I'm going to feel real sorry for him in the years to come when the system changes the rules all over again,

It's a pretty unfair system,

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Better let your friend know that they are liable for stamp duty to put each property in these trusts...

And on your note re making money in real estate. If you truly bought 10 years and amounted to a zero net gain after selling I think you may have over paid something silly on your original purchase price.

As always DYOR
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