Thursday, December 27, 2007:
We have just received our final completion costs from our lawyer with a full breakdown of figures. I am confused as to why we are being charged both stamp duty on the property and stamp duty on the mortgage. Also the notary fees seem to be payable twice too. Again both on the property and the mortgage. Is this correct?
My concern is i am paying this into a holding account rather than direct and therefore, cannot see which money is actually going to whom.
We have already been told we have to pay the 7% tax twice as we were not the original purchasers off plan and do not want to end up paying other things twice when we can dispute it if we know our position.
Another thing is we were asked by the lawyer if we wanted to declare the original purchase price off plan or the full amount we are paying at the tax office. This surely will just save the original buyer who is transferring contracts to us paying capital gains, which we would have to pay at 18% when we re-sell. Are we better insisting on the purchase price we are paying being declared up front?
Thread: completion costs (mortgage)