We are looking at retirement village options for our parents and wanted to know if stamp duty is payable at any time, thank you?

It depends.
some provide a "residence right" which is not a legal title of ownership
some are a strata title, hence legal ownership
so the moral of the story is take the paperwork to a solicitor with experience in this area and pay for a legal opinion. It has the potential to save your parents many thousands of dollars.
and be VERY wary of sharks......there is no shortage of slippery characters who are happy to prey on the elderly.

cheers
BC

Hi David,

The one thing I can’t stress enough to you is make sure you are aware (and comfortable) with the exit fees they charge.

Remember your parents a buying a lifestyle asset, not an investment when moving into a retirement village. It is quite common to see exit fees of 30% of the sale price when the retirement village is eventually sold (either your parents want to move elsewhere or you are selling as an estate asset). More often than not after exit fees and refurbishment cost is taken into account there is no more money left after sale than the original purchase price (and in some cases a whole lot less).

Retirement villages are a fantastic option from a lifestyle point of view but I encourage all my clients to fully understand the exit fees & make sure their kids and other loved ones know too.

All the best.

James