New Stamp Duty Charges
Confused by the changes to stamp duty? Getting different versions of the changes?
The new charges – actually called Transfer Duty – apply as at contract date so all contracts must be signed off before midnight on Sunday 31/07/11.
- Investors buying at less than $540,000 will save up to a maximum of $600. From $540,000 onwards it remains unchanged for investors.
- For owner occupiers not eligible for First Home Concessions the maximum increase on any property is $7,175 and that kicks in from $540,000 purchases. Up to $540,000 the increase is on a sliding scale.
- First Home owners are now entitled to concessions on purchases up to $599,999.99 where previously it was up to $549,999.99 which in effect compensates for the increase in stamp duty up to that level.
- First Home Owners Grant of $7,000 on properties purchased up to $750,000 is unchanged.
- The Qld Building Boost Grant of $10,000 applies from 1/8/11 – 31/1/12 and is available to ANY buyer building or buying a NEW home.