All Topics / Help Needed! / New QLD Stamp duty concession??

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  • Profile photo of kearnalkearnal
    Member
    @kearnal
    Join Date: 2005
    Post Count: 9
    June 16, 2008 - 10:11 am

    Hi there,

    Below (taken from the REIQ website);

    'First home buyers will be exempt from stamp duty on homes up to $500,000 from 1 September 2008, while the abolition of mortgage duty has been brought forward six months to 1 July this year'.

    Can anyone confirm if this new concession is based on settlement date or date of contract? And/Or, a link that I can source this information.

    Thanks

    Connie & Luke

    Profile photo of Shane68Shane68
    Member
    @shane68
    Join Date: 2008
    Post Count: 4
    June 16, 2008 - 12:30 pm

    Hi Connie and Luke,

    I have spoken to the Office of State revenue and they have confirmed that stamp duty on the transfer is calculated based on the date of contract / not the settlement date.

    You can visit the office of state revenue website http://www.osr.qld.gov.au/

    Cheers

    Shane
    Buyers Choice Home Loans
    07 38207161

    Profile photo of god_of_moneygod_of_money
    Participant
    @god_of_money
    Join Date: 2008
    Post Count: 970
    June 16, 2008 - 2:56 pm

    Yeup confirmed
    I asked my accountant and she said the exchange date of contract @ NSW

    Profile photo of kearnalkearnal
    Member
    @kearnal
    Join Date: 2005
    Post Count: 9
    June 16, 2008 - 11:30 pm

    Thanks for your replies!

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