Stamp duty savings

Recently announced in the Victorian state budget 20-21, 50% of stamp duty will be waived on newly built or off-the-plan homes valued up to $1million. Applies to contracts entered into on or after 25 November 2020 and before 1 July 2021. For more information visit the State Revenue Office website.

Plus, as a first home buyer there are further stamp duty exemptions and concessions available. The Victorian government’s first home buyer exemptions and concessions apply to both established and new/off-the-plan homes. If the dutiable value is of $600,00 or less, you could receive an exemption from having to pay stamp duty. If it’s between $600,001 to $750,000, you could still get a duty concession. For more information visit the State Revenue Office website.

If you would like to find out more, don’t hesitate to get in touch with Jason on 0427 807 818 or via email on [email protected].