Whilst those operators intending to purchase new vehicles will be applauding the Treasurer's decision to reduce the stamp duty on new vehicles to 3 percent capped at 12,000 dollars, operators purchasing second-hand vehicles would have to feel they have been left out.The sting in the tail in the stamp duty decision is that secondhand vehicles will still attract a much higher level of stamp duty. This will be calculated on a formula, but in principle, means purchasers of second-hand vehicles valued over 40,000 dollars will pay 5 percent stamp duty. Again, this will be capped at 400,000 dollars. The question is how many second-hand vehicles are valued over 400,000 dollars.
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