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BUILD-UP: The seaweed build-up at Port Geographe was the major reason for the project’s failure. Photo: Department of Transport

Tax laws deliver ‘harsh’ outcome for investor

A BUSSELTON real estate agent has learned the hard way how not to invest in property.

After putting his money into the struggling Port Geographe development, Sam Hanson was hit from all sides - failing to secure bank finance, then forfeiting his deposit, and most recently being told he could not get a stamp duty refund.

Mr Hanson’s case played out in the State Administrative Tribunal, where he had been fighting for a stamp duty refund.

Despite Justice John Chaney having some sympathy for Mr Hanson, the tribunal could do nothing to help as he was one month late in lodging his application.

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