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Articles
Merry Christmas to all our clients, your staff, family and friends
FBT - Christmas Parties and Taxi Fares
Employee Christmas Parties and Gifts - Any FBT?
Victorian Stamp Duty Reduction - First Home Buyers
School Bonus - Action Required
Cloud computing central to SME accounting
Traps to avoid with In-specie Transfers to Self-managed Funds
Companies are now able to carry back losses
Want to do some of your own research – no problems?
Living Away from Home Arrangements - Legislation Announcements
Living Away from Home Allowances Proposals
Education Tax Refund Replaced by 'School Kids Bonus'
Victorian Stamp Duty Reduction - First Home Buyers

 

A small group of home owners will benefit from Victorian stamp duty reductions on 1 January 2013.


There is at present a 20% discount for first home buyers, but on 1 January 2013 that discount will increase to 30%.

For those buying their first home and meeting the eligibility criteria, if the settlement is 1st January or later, the increase discount will apply.  It is the settlement date that will be relevant, rather than the date the contract is signed.  Eligible buyers may find that deferring a pending settlement achieves substantial savings.

Some of the other key requirements for the reduction in stamp duty are that the total purchase price must not be over $600,000, it must be the first home and you must live in it as the primary place of residence.

The savings will be several thousand dollars and anyone buying their first home would be well advised to consult their solicitor or conveyancer for eligibility.

 

 

 

 

 

 

 

 

 

 

 

 



19th-December-2012