Guest Samfire Posted February 11, 2009 Share Posted February 11, 2009 Can anybody tell me what the current situation is regarding stamp duty payable by first-time buyers in Canberra, who hold permanent residency visas? I have found some reference to it on the web, but I must admit, I am still having difficulty understanding it in Laymans terms. I'd be grateful for any info! Have a great day! Link to comment Share on other sites More sharing options...
Quoll Posted February 11, 2009 Share Posted February 11, 2009 Yes looks like a dogs breakfast! Basically duty is payable according to the value of the property so on a $500k home you'd be forking out $20k in stamp duty ACT Revenue Office: Land and Improvements If you have a lowish income and are buying a home under $422K then you can get a concessional stamp duty rate ACT Revenue Office: Home Buyer Concession Scheme 1 January 2009 - 30 June 2009 (if you can find a home you wouldnt mind living in under $422k of course!) You'll get the First Home Owner grant of $14k if you buy before 30 June this year - more if you buy a new home of course. And dont forget to budget for the conveyancing fees as well - they always run into the thousands. BTW the allhomes site usually gives you a ball park for the stamp duty payable on the property. Link to comment Share on other sites More sharing options...
Guest Samfire Posted February 11, 2009 Share Posted February 11, 2009 Thanks Quoll - you're the best!!! A straight answer to a very important question - at last!!! I'll be sure to check out the weblinks too. I won't have purchased before June, as we still have to apply next month to DIAC, so will be awhile yet before we get to Canberra! Hopefully, they will extend the government grant, or the stamp duty policies may have changed for the better (and pigs might fly !!!!) - if I'm correct, I think NSW have abolished it for first time buyers?? Maybe I'll just buy a little boat and live on the river!!! Only joking, cheers! Samfire Link to comment Share on other sites More sharing options...
andyhus Posted February 11, 2009 Share Posted February 11, 2009 Just to let you know there are rumours in estate agents in queenland that the goverment grants will be extended. Only rumour but what a great help for 1st time buyers. Link to comment Share on other sites More sharing options...
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