The Victorian Government has recently announced changes to the Duties Act which may have significant cash- flow consequences for purchasers and developers alike.
These changes effect the timeframes for purchasers to make stamp duty payments.
If you have a settlement that is scheduled on or after 1 April 2012, you must make all stamp duty payments within 30 days from the Settlement Date.
If you fail to make the required stamp duty payments within the prescribed period, you may face substantial penalties.
Kliger Partners will provide regular updates on how these changes will impact your business.
If you have any questions, please do not hesitate to contact us.
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News | Amended State Government Legislation: Have Funds Available for Duty Sooner!
18/01/2012
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