Developer Wants SA Stamp Duty Relief Extended
Asia Pacific Building Corporation is asking the South Australian government to extend stamp duty relief for off-the-plan apartment sales to its new boutique hotel at Walkerville.
The state government announced plans in June to abolish stamp duty on some off-the-plan apartments valued up to $500,000 but encompassing only Adelaide and North Adelaide, later amended to include inner-rim suburbs.
APBC, the developer of The Watson, says it is important the hotel is included in the stamp duty exemption. Asia Pacific Building Corporation’s Will Deague says, “If you were able to buy for $15,000 to $20,000 cheaper just a bit up the road, why wouldn’t you?”
He said the relief applied to Gilberton apartment complex 45 Park just 1.5km from The Watson.
Mr Deague met with treasurer Jack Snelling last month in a bid to have the exemption further stretched to include Walkerville.
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