I understand from 1st May, Qld will abolish stamp duty for first home buyers.
Question 1 – does this also apply for a first home buyer who intends to rent out the property?
and depending on answer to Q1….
Question 2 – when two people are building an investment property as tenants-in-common and one is a new investor, would the full stamp duty still be payable on settlement or would there would a concession as one of the parties is a first home buyer?
Hi Shirley,
Hmmmmmm – definiately one for the experts. My advice (for what it is worth) ask the Queensland Office of State Revenue as ther is nothing worse than a government that has been ripped off.
Check out http://www.osr.qld.gov.au/gas/fhog/
and if that fails get on the phone and record the details, including the name of the person you spoke too.derek
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Definately follow Derek’s advice, but also be aware that it is only for the first $250k, so if your property is worth more than that you will have to pay on anything over ie $350k property stamp duty will still be needed on $100k.
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