[cadillacs]

STAMP DUTY RORT​

I put this to all; There should be an age (80 or earlier)where you can give away properties to who you want to get them, without cost of stamp duty. As it is you can leave them to ? in your will, but when the no win no fee lawyers get into it the only ones that benefit is lawyers. We cannot give away without paying huge stamp duty while we are alive, which most cannot afford.
In an old age we should be allowed to give away to who we want to get without stamp duty. I do not want Lawyers to get what I worked for. How about you?
Alternatively no win no fee should be BANNED for will disputes.

 

[Suzanne rose]

I understand what you are saying, but regardless stamp duty is the cost to transfer the property into someone else's name.

To be able to give away property , and if you are on a pension then some would say if you can just give it away then maybe you can sell it then and live on it.

Stamp duty is also there to protect owners otherwise people might claim property illegally,it is a more in depth procedure than you think.

 

[Macka.]

I understand what you are saying, but regardless stamp duty is the cost to transfer the property into someone else's name.

To be able to give away property , and if you are on a pension then some would say if you can just give it away then maybe you can sell it then and live on it.

Stamp duty is also there to protect owners otherwise people might claim property illegally,it is a more in depth procedure than you think.

I agree with Cadillacs. My sister is going to get our mothers house and has to pay $17000 in stamp duty. She is on the pension so where is she going to get that amount of money

 

[maggiej]

Our property goes to our children when our time comes but surely it is not us if we decide to dispose of the property before that pays stamp duty. surely it is the buyer who hought it who has to pay the stamp duty.
I suppose this also means that GST is also charged. Here in WA we pay GST and Stamp duty on many things.

 

[Suzanne rose]

I agree with Cadillacs. My sister is going to get our mothers house and has to pay $17000 in stamp duty. She is on the pension so where is she going to get that amount of money

Unfortunately that's how it is. It's a huge thing to put property into someone's name and is expensive. But better it's done properly otherwise who knows who would be putting property illegally in their name

 

[Jest]

I agree with Cadillacs. My sister is going to get our mothers house and has to pay $17000 in stamp duty. She is on the pension so where is she going to get that amount of money

that is theft.

 

[Suzanne rose]

that is theft.

I'm tossing up if to renovate or sell . If I buy another house I'm up for over $40,000 in stamp duty

 

[Littleboy8]

I'm tossing up if to renovate or sell . If I buy another house I'm up for over $40,000 in stamp duty

I’d renovate I couldn’t leave that beautiful garden you’ve got.

 

[marni]

Where do you live? I do not pay stamp duty for my gifts to children.

 

[jca]

What we did, was to loan our children the money, etc. and they paid us a very small amount of interest. This was done by a contract which stated when we die, the loan becomes nil and void.

 

[Macka.]

What we did, was to loan our children the money, etc. and they paid us a very small amount of interest. This was done by a contract which stated when we die, the loan becomes nil and void.

Hi jca. Does this loaned money still count towards your assetts for centrelink.

 

[jca]

Hi jca. Does this loaned money still count towards your assetts for centrelink.

Yes, with interest at the deemed rate. although I read recently that the deeming was going to change so?????