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STAMP DUTY CHANGES
April 2004
April, 2004 - Glenn Lee, Principal
of Raine & Horne Palm Beach, Whale Beach & Avalon Beach,
was asked by the Manly Daily to comment on the recent State Government
changes to stamp duty payable by first home buyers and property
investors, an excerpt of this article appears below:
Glenn Lee, of Raine & Horne Palm Beach, said the $500,000
benchmark was ludicrous as the average price in Sydney was more
than $400,000 and it was impossible to find any property on the
Northern Beaches for less than $500,000.
"You can't even buy a block of land for that," he
said.
He also questioned the timing of the hit, saying the market
was no longer growing strongly but was leveling out and that things
would only get worse with the introduction of the stamp duty on
vendors.
Click on the image below to read this article in it's entirety:
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Want
more information?
For
details of the changes to stamp duty introduced by the NSW Government,
click here to
view the Treasurer's media release and information sheet.
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