The parties legal representative have agreed through correspondence to adjust the contract stated purchase price of land in Queensland. The vendor's solicitor proposes that the agreement be given effect to by reflecting the reduced price in the transfer, rather than by way of a deed of variation. Public Ruling DA501.1.1 appears to contemplate that latter as being effective to reduce the price (and hence the stamp duty) as a waiver. I am interested in any experience people may wish to share of how this gets stamped in a way that gives the purchasers the benefit of the reduction in price.
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