No Stamp duty for 1st time buyers!
May 10th 2007, 10:20 am
#1
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Thread Starter
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Location: Somerly, Perth
Posts: 4,800
No Stamp duty for 1st time buyers!
Just been on the news in Perth that first time buyers in WA will now be exempt from stamp duty if their house is under $500,000 
This has come from the 2007/08 budget. They say you will be able to save up to around $20,000.
Woohoo!
This has come from the 2007/08 budget. They say you will be able to save up to around $20,000.
Woohoo!
May 10th 2007, 10:22 am
#2
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Re: No Stamp duty for 1st time buyers!
May 10th 2007, 10:33 am
#3
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Location: Perth-for now!!
Posts: 248
Re: No Stamp duty for 1st time buyers!
Can anyone tell me when this is effective from..........we are panickimg a bit!!!
Put in an offer on a house last week which was accepted.......had already been to see the bank re mortgage and finances approved in principle. Was at bank this morning and was told stamp duty would be around $20.000 and actual loan application would be sent off today!!! (this was before the announcement was made). So to all you financial wizards out there (definately not me) at what stage in all this do you become liable for the stamp duty and am I legally bound at this stage to pay it even though it was abolished for first time home buyers in OZ on properties under $500.000.
Put in an offer on a house last week which was accepted.......had already been to see the bank re mortgage and finances approved in principle. Was at bank this morning and was told stamp duty would be around $20.000 and actual loan application would be sent off today!!! (this was before the announcement was made). So to all you financial wizards out there (definately not me) at what stage in all this do you become liable for the stamp duty and am I legally bound at this stage to pay it even though it was abolished for first time home buyers in OZ on properties under $500.000.
Last edited by ozzymaz; May 10th 2007 at 10:40 am. Reason: pushed wrong button
May 10th 2007, 10:49 am
#4
is happy to be here :)
Thread Starter
Joined: Mar 2005
Location: Somerly, Perth
Posts: 4,800
Re: No Stamp duty for 1st time buyers!
Can anyone tell me when this is effective from..........we are panickimg a bit!!!
Put in an offer on a house last week which was accepted.......had already been to see the bank re mortgage and finances approved in principle. Was at bank this morning and was told stamp duty would be around $20.000 and actual loan application would be sent off today!!! (this was before the announcement was made). So to all you financial wizards out there (definately not me) at what stage in all this do you become liable for the stamp duty and am I legally bound at this stage to pay it even though it was abolished for first time home buyers in OZ on properties under $500.000.
Put in an offer on a house last week which was accepted.......had already been to see the bank re mortgage and finances approved in principle. Was at bank this morning and was told stamp duty would be around $20.000 and actual loan application would be sent off today!!! (this was before the announcement was made). So to all you financial wizards out there (definately not me) at what stage in all this do you become liable for the stamp duty and am I legally bound at this stage to pay it even though it was abolished for first time home buyers in OZ on properties under $500.000.
May 10th 2007, 10:54 am
#5
is happy to be here :)
Thread Starter
Joined: Mar 2005
Location: Somerly, Perth
Posts: 4,800
Re: No Stamp duty for 1st time buyers!
http://britishexpats.com/forum/showthread.php?t=448987
May 10th 2007, 10:58 am
#6
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Joined: Sep 2006
Location: Ellenbrook, Perth
Posts: 226
Re: No Stamp duty for 1st time buyers!
[QUOTE=Tiawamutu;4760603]Just been on the news in Perth that first time buyers in WA will now be exempt from stamp duty if their house is under $500,000
This has come from the 2007/08 budget. They say you will be able to save up to around $20,000.
Woohoo! [/QUOTE
Yee ha!!!!
This is great for us. We arrive in July and hope to buy a house fairly soon.
I'm so chuffed.
Everyone says property is quite expensive in Perth - so it will definately help us greatly.
Are we still entitled to the $7,000 grant as well available to 1st time buyers - or has this been taken away?
Laura
This has come from the 2007/08 budget. They say you will be able to save up to around $20,000.
Woohoo!
[/QUOTEYee ha!!!!
This is great for us. We arrive in July and hope to buy a house fairly soon.
I'm so chuffed.
Everyone says property is quite expensive in Perth - so it will definately help us greatly.
Are we still entitled to the $7,000 grant as well available to 1st time buyers - or has this been taken away?
Laura
May 10th 2007, 11:03 am
#7
is happy to be here :)
Thread Starter
Joined: Mar 2005
Location: Somerly, Perth
Posts: 4,800
Re: No Stamp duty for 1st time buyers!
[QUOTE=gordon&laura;4760769]
I was also wondering about the first time buyers grant. It would be great if people were 
Just been on the news in Perth that first time buyers in WA will now be exempt from stamp duty if their house is under $500,000
This has come from the 2007/08 budget. They say you will be able to save up to around $20,000.
Woohoo! [/QUOTE
Yee ha!!!!
This is great for us. We arrive in July and hope to buy a house fairly soon.
I'm so chuffed.
Everyone says property is quite expensive in Perth - so it will definately help us greatly.
Are we still entitled to the $7,000 grant as well available to 1st time buyers - or has this been taken away?
Laura
This has come from the 2007/08 budget. They say you will be able to save up to around $20,000.
Woohoo!
[/QUOTEYee ha!!!!
This is great for us. We arrive in July and hope to buy a house fairly soon.
I'm so chuffed.
Everyone says property is quite expensive in Perth - so it will definately help us greatly.
Are we still entitled to the $7,000 grant as well available to 1st time buyers - or has this been taken away?
Laura
May 10th 2007, 11:12 am
#8
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Posts: 1,905
Re: No Stamp duty for 1st time buyers!
Yes, this is great news for first time buyers!
Yippee, we are hoping to buy a house in WA so this brilliant!
Now, just have to get to Aus!!
GEMS
Yippee, we are hoping to buy a house in WA so this brilliant!
Now, just have to get to Aus!!
GEMS
May 10th 2007, 11:56 am
#9
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Re: No Stamp duty for 1st time buyers!
Yes you are still eligible for the $7000. Great news for the first time buyers, especially the youngsters trying to get on the ladder!!!
May 10th 2007, 12:01 pm
#10
Forum Regular
Joined: Sep 2006
Location: Ellenbrook, Perth
Posts: 226
Re: No Stamp duty for 1st time buyers!
We do have some cash to take over for a deposit - but certainly not as much as some people. Our mortgage will be bigger in Perth than it is here.
I was a bit worried about us 'being up to our eyes in it'.
Good news all round I'd say!
Laura
May 10th 2007, 12:01 pm
#11
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Re: No Stamp duty for 1st time buyers!
Can anyone tell me when this is effective from..........we are panickimg a bit!!!
Put in an offer on a house last week which was accepted.......had already been to see the bank re mortgage and finances approved in principle. Was at bank this morning and was told stamp duty would be around $20.000 and actual loan application would be sent off today!!! (this was before the announcement was made). So to all you financial wizards out there (definately not me) at what stage in all this do you become liable for the stamp duty and am I legally bound at this stage to pay it even though it was abolished for first time home buyers in OZ on properties under $500.000.
Put in an offer on a house last week which was accepted.......had already been to see the bank re mortgage and finances approved in principle. Was at bank this morning and was told stamp duty would be around $20.000 and actual loan application would be sent off today!!! (this was before the announcement was made). So to all you financial wizards out there (definately not me) at what stage in all this do you become liable for the stamp duty and am I legally bound at this stage to pay it even though it was abolished for first time home buyers in OZ on properties under $500.000.
May 10th 2007, 12:05 pm
#12
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Joined: Jul 2005
Location: Butler
Posts: 127
Re: No Stamp duty for 1st time buyers!
HELP!!!
I really need to know what happens to the people already buying a property? We are around half way through!!? Can we pull out & begin the buying process again as it will save us nearly $20,000!!!!! :curse: Or would we be liable for financial penalties???
Please help someone!!
thanks
x
I really need to know what happens to the people already buying a property? We are around half way through!!? Can we pull out & begin the buying process again as it will save us nearly $20,000!!!!! :curse: Or would we be liable for financial penalties???
Please help someone!!
thanks
x
May 10th 2007, 12:07 pm
#13
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Re: No Stamp duty for 1st time buyers!
what about in SA?
May 10th 2007, 12:15 pm
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