Stamp duty is one of the most unwelcoming parts of property purchase and ownership. All the same, it is something that every homeowner has to bear. What most prospective homeowners do not understand is that there are a number of transactions exempted from stamp duty. In order to keep these duties at bay, most real estate investors seek the help of stamp duty experts. Here is a look at types of stamp duty exemptions.

 

Properties located in remote areas

 

If you buy a property in a disadvantaged or remote area, you can qualify to be exempted from stamp duty. People who buy property for residential or commercial use are exempted from paying stamp duty provided that the property of the house is not more than a specified amount of money.

 

Properties with Multiple dwellings

 

Besides that, you can also enjoy stamp duty exemption by buying multiple houses. The stamp duty that you are supposed to pay as a buyer is the same to the rate of stamp duty on the exact value of the total amount you should pay on the house, divided by the total number of houses you have bought. For example, if you buy a house for one million dollars, instead of paying stamp duty on a property whose worth is a million dollars, your stamp duty will be equivalent to the rate charged at $350,000 or even less.

 

Eco-friendly homes

 

Another great way of avoiding stamp duty is by buying an Eco-friendly Fiducia house. The government offers relief on stamp duty for investors buying zero-carbon homes for the very first time.  To benefit from this relief, you need to ensure that your home is accredited. A zero-carbon house is a type of house that uses heating and cooking methods that have zero emissions.

 

Registered social landlords

 

Property owners who have been registered as social landlords can also be exempted from paying stamp duty. In order to qualify for tax relief, a good number of the members should be tenants at the building. On the same note, the landlord should also buy the property from a local body mandated to do so. In addition to that, the transaction must be aided by a government subsidy. Save money on stamp duty by consulting experts here.

 

Besides the aforementioned, a buyer can also be exempted from paying stamp duty if there is transfer of property between same group companies. When the buyer and the seller belong to the same company group, the buyer may seek to be exempted from paying stamp duty.