No Stamp Duty on first house - Beware
Nov 20th 2008, 1:00 am
#1
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No Stamp Duty on first house - Beware
We have just been hit for stamp duty on our first home in Australia, we purposely brought a house under $500,000 so we would'nt have to pay it ! But you do have to if you have ever owned property anywhere in the World. So thats another $8000 please oh and another $983.40Qld registration fee. + Solicitors fees (about $1000) so just a good job the first home owners grant of $14000 is not world wide to.
Nov 20th 2008, 1:01 am
#2
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Re: No Stamp Duty on first house - Beware
We have just been hit for stamp duty on our first home in Australia, we purposely brought a house under $500,000 so we would'nt have to pay it ! But you do have to if you have ever owned property anywhere in the World. So thats another $8000 please oh and another $983.40Qld registration fee. + Solicitors fees (about $1000) so just a good job the first home owners grant of $14000 is not world wide to.
Nov 20th 2008, 1:05 am
#3
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Re: No Stamp Duty on first house - Beware
We have just been hit for stamp duty on our first home in Australia, we purposely brought a house under $500,000 so we would'nt have to pay it ! But you do have to if you have ever owned property anywhere in the World. So thats another $8000 please oh and another $983.40Qld registration fee. + Solicitors fees (about $1000) so just a good job the first home owners grant of $14000 is not world wide to.
Nov 20th 2008, 1:06 am
#4
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Re: No Stamp Duty on first house - Beware
Yes absolutely 100% i've just got off the phone to the solicitor
Nov 20th 2008, 1:07 am
#5
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Re: No Stamp Duty on first house - Beware
From my page on this:
Rules for First Home Buyers
QLD: A person's home is a first home if, before acquiring the home, the person did not hold and has never before held an interest in other residential land in Queensland or elsewhere, other than as a trustee for another person, as a lessee or as a holder of a security interest.
QLD: A person's home is a first home if, before acquiring the home, the person did not hold and has never before held an interest in other residential land in Queensland or elsewhere, other than as a trustee for another person, as a lessee or as a holder of a security interest.
Nov 20th 2008, 1:08 am
#6
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Assume so. Can't imagine that we didn't. Can't honestly remember now, it's three years ago but I'm fairly certain we didn't pay stamp duty.
Nov 20th 2008, 1:17 am
#8
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Re: No Stamp Duty on first house - Beware
Yep it has been changed since first of September 08, both the bank & our solicitor told us.
Also there is backlog of the first time buyer grant be careful don’t get caught in it, they’ll pay but there is a bit of wait, make sure you have your $14.000 ready in case there is delay, happened to a friend of us last week.
Also there is backlog of the first time buyer grant be careful don’t get caught in it, they’ll pay but there is a bit of wait, make sure you have your $14.000 ready in case there is delay, happened to a friend of us last week.
Nov 20th 2008, 1:19 am
#9
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Re: No Stamp Duty on first house - Beware
A similar thing on the FHOG was also mentioned in the Senate Select Committee on Housing Affordability in Australia, Chapter 9 - Current and proposed schemes to increase home ownership, First Home Owner Grant (FHOG) Scheme, section 9.5
Who knows what other changes may occur...
thought it unfair that people who had previously owned a house in Australia were ineligible for a FHOG but people who had previously owned a house overseas could still receive it
Nov 20th 2008, 1:20 am
#10
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Re: No Stamp Duty on first house - Beware
It's a state benefit. They need to make sure that homeowners from other states can't get it.
Nov 20th 2008, 1:24 am
#11
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Re: No Stamp Duty on first house - Beware
Is that ruling just for Qld?
I can't find anything that says about overseas property on the WA State Revenue website.
I can't find anything that says about overseas property on the WA State Revenue website.
Last edited by The_Wookie; Nov 20th 2008 at 1:26 am.
Nov 20th 2008, 1:31 am
#12
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Re: No Stamp Duty on first house - Beware
Each State does have its own rules on this though.
Nov 20th 2008, 1:54 am
#13
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Re: No Stamp Duty on first house - Beware
TBH the FHOG being available to someone like me is a bit unfair as my next property will be my third, and the only reason I will have a large (30-50%) deposit is due to profit on the previous 2 properties rather than saving up. It would be fairer to genuine FHBs if I didn't get this grant as I am just competing unfairly with them.
Nov 20th 2008, 2:05 am
#14
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Re: No Stamp Duty on first house - Beware
we had to pay stamp duty on our home , purchased nov 2007. It wasn't the full amount but, heh ho
Nov 20th 2008, 2:18 am
#15
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Re: No Stamp Duty on first house - Beware
We have just been hit for stamp duty on our first home in Australia, we purposely brought a house under $500,000 so we would'nt have to pay it ! But you do have to if you have ever owned property anywhere in the World. So thats another $8000 please oh and another $983.40Qld registration fee. + Solicitors fees (about $1000) so just a good job the first home owners grant of $14000 is not world wide to.