All Topics / General Property / interstate stamp duty?

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  • Profile photo of aoao
    Participant
    @ao
    Join Date: 2006
    Post Count: 49

    hi all
    just a question about paying stamp duty on purchasing properties:

    if i have been living in NSW and haven’t bought any properties and now decided to buy a property in VIC, will i still be able to get stampduty exemption? do i have to live in VIC for a period of time to be eligible?

    on the official website, it says this:
    “The Victorian Government has made available an additional $5000 bonus payment for first home buyers in Victoria.

    This initiative brings the total amount of government grants available to first home buyers to $12,000, including the $7000 First Home Owner Grant. Both grants are administered in Victoria by the State Revenue Office.

    The First Home Bonus is available to people over 18 years of age who enter into a contract to purchase or build a home, or build a home as an owner-builder, between 1 May 2004 and 30 June 2005. The purchase price of the home must not exceed $500,000.

    First Home Bonus applicants must meet the same eligibility criteria as for the $7000 First Home Owner Grant. “

    since we are in 2007 i guess i won’t be able to get that additional $5000. but it doesn’t say anything about residential status.

    Is stamp duty on state level or federal level?
    will i be able to get some stamp duty exemption as a first home buyer?

    any help will be greatly appreciated
    ao

    Profile photo of elkamelkam
    Member
    @elkam
    Join Date: 2006
    Post Count: 722

    Hello ao

    The info you posted seems dated. Here is a link to the relevant section of the Vic. SRO site. They administer the FHOG, the Vic bonus and stamp duty, which is a state tax.

    http://www.sro.vic.gov.au/sro/srowebsite.nsf/taxes_benefits.htm

    I haven’t looked to see what the rules are but like in every other state you will be required to live in the property within a certain period of time and for a certain period of time. You should be able to find it on the site.

    Hope this helps[smiling]
    Elka

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    I don’t think it matters where you have been living, as long as you qualify and intend to live in the property you are purchasing.

    Terryw
    Discover Home Loans
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    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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