Hi all, I have just brought a property in Queensland, and we are currently posted to Canberra. The bank has classed it as an investment property, but we have no plans on renting it out at this stage. I'm waiting on a job in Queensland (could take a year) so plan on living in it within a year. The bank said that we will have to pay Investors Stamp Duty (another $10,000) is this correct? It is a lot of money! I have tried to call the ATO and the young man on the phone was rude and didn't help at all. Anyone have any advice?
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2 replies