WITH THE ABOLISHMENT I HAVE HEARED WITH FIRST HOME BUYERS,IS THIS ONLY IN SELECTED STATES.ALSO IF I FIND A HOUSE IN THE NEXT COUPLE OF WEEKS CAN I HOLD SALE IN ANYWAY TILL 1ST OF MAY.THANKS.I LIVE IN BRISBANE ALSO AND LOOKING TO PURCHASE HERE
One would expect that the stampduty which is levied is whatever duty is applicable on the day the documents being are presented to the Stampduties office.
However, I am only spouting what I think is a common sense view. Much better to phone your State’s revenue office and make sure.
Pisces
Hi smartmoney, when you say “FHOG”, I presume you don’t actually mean the first home owner’s grant? That’s a completely different thing from stamp duty (sorry to anyone who gets annoyed at me pointing out the obvious).
On stamp duty, you’ll need to find out what the transitional provisions are. It’s likely to be either the date the contract was made, or the date of settlement. I suspect it’ll be the date the contract was made. Pisces has sound advice, though – call the Queensland office of state revenue, and get the story straight from them.
E
DIY Residential Property Settlements in WA – the book coming soon! When I can get my act together…
Elysium, the heading of the thread says it all : NO STAMP DUTY WITH FHOG 1ST MAY
I would think this means that (in Smartmoney’s state at least) stampduty will not be required for first home buyers as of the 1st of May.
What the exact circumstances and conditions are, perhaps someone can enlighten us .
Pisces
Some weeks ago, I read an article (can’t find it now) about the abolition of Mortgage stamp duty for first home buyers. (Note: Highly unlikely that the same would apply for land or building stamp duty).
I live in VIC and read it in The Age, but the article was about how QLD was going to do it, and how Steve Bracks was considering it for VIC.
I think this may be what SMARTMONEY is referring to??
My apologies in advance if I’m wrong [
]Steve.
“Knowledge is Power”
Pisces, believe it or not, the eligibility criteria for “first home ownership” under stamp duty laws and under the First Home Owner Grant Act may be different.
I have read the heading of the thread. “FHOG” is an acronym for First Home Owner’s Grant, isn’t it?
Stamp duty and the FHOG are quite different things.
DIY Residential Property Settlements in WA – the book coming soon! When I can get my act together…
Hey guys,
After reading another thread, I was alerted to this article.
http://www.abc.net.au/news/newsitems/s1065616.htm
We’ll have to wait until the findings of the productivity commission to know what’s going to happen with respect to any of this. The government probably won’t pay much attention to their recommendations anyway…? Just have to wait and see.
Steve.
ps: I can’t find any articles or anything that mentions 01/05/04 for this happening. Perhaps SMARTMONEY knows someone on the Productivity Commission?? [
]“Knowledge is Power”
]
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