An account on avoiding stamp duty

April 21, 2012  //  Posted by: Financial advisor  //  Category: Tax

Stamp duty is a form of property tax that a home buyer has to pay against the property. It can get so high at times that the buyer might find it difficult to cope with the budget. To avoid stamp duty you can take some help from legal consultants. Stamp duty mitigation deals in a legal way to reduce the value of the property using various financing techniques.

If you buy a property in an area marked by the government as disadvantaged and in need of development, the lower limit of stamp duty is raised. You will be able to save some percentage of the tax you would have had to pay. With low property value, stamp duty rate is also lowered. First time buyers also get a higher limit for stamp duty imposition. Homes using renewable energy and are certified carbon free get a rebate on stamp duty and are exempted if the value is under a certified level. This is becoming a popular way to avoid stamp duty.

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