Substituted Purchaser

SUBSTITUTED PURCHASER

substituted_purchaserSUBSTITUTED PURCHASER
A purchaser on a contract may be substituted on or before settlement with no extra stamp duty payable providing no profit was made from the substitution.

The relationship is between the original purchaser and the substituted purchaser. Related for these purposes are in a linear format; i.e. from purchaser to spouse or parent or sibling or child.

This provision incurs a nominal charge, currently $20.00.

Qualifying Relationships

If the original purchaser is an individual, the following persons are “related” for stamp duty relief purposes:

NB: The terms Lineal Ancestor and Lineal Descendant refers to persons who are related directly as ancestors or descendants of the Original Purchaser e.g. a direct line of relationship that can be traced between a grandparent to a grandchild.

Aunts/Uncles and Nieces/Nephews do not qualify as lineal ancestors or descendants of the Original Purchaser.

    • Brother
    • Sister
    • Parent or Remoter Lineal Ancestor
    • Child or Remoter Lineal Descendant
    • Child or Remoter Lineal Descendant of Wife/Husband
    • Original Purchaser
    • Wife or Husband
    • Parent or Remoter Lineal Ancestor of Wife/Husband
    • Sister/Brother of Wife/Husband
    • Child or Remoter Lineal Descendant of De Facto Partner
    • De Facto Partner
    • Parent or Remoter Lineal Ancestor of De Facto Partner
    • Sister/Brother of De Facto Partner

 

Leave a Reply

Your email address will not be published.

Make an enquiry today