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Stamp Duty to be paid by the vendor (seller).

Submitted on Friday 9th December 2011

Published on Monday 12th December 2011

Current status: Closed

Closed: Wednesday 12th December 2012

Signatures: 9

Tagged with

Tax

Petition Action

Stamp Duty to be paid by the vendor (seller).

Additional Information

That stamp Duty be paid by the vendor (seller) of the property. In this way all first time buyers are exempt and each person trying to trade up will pay on the lower transaction. Only those downsizing will pay on a higher transaction, and by the nature of that they can afford it. Mortgage % loans are creeping up so now is the time to bring about this change. Inheritance Tax would need to exclude the Stamp Duty to avoid double counting, but there is already a probate valuation so no real extra work there then.


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