daisycutter

is there a threshold at which first time buyers ( i presume new immigrants) start to pay stamp duty on property purchase ...i had heard that it doesn't kick in until the purchase price exceeds $500k.....also is this the only state that does this,if indeed it does...cheers.

goldchoccycoin

Queensland have scrapped stamp duty for first-home buyers (for properties up to $500K).

Google is your friend!

IvanM

It does not kick in until 500k and is a sliding scale up to 600k. There is a calculator on ingdirect.com.au for all the states. Immigrants are counted as first home buyers.

carolinephillips

Do you pay duty on the whole lot or just the portion over 500k???
As we are in Sydney, there wont be anything below 500k!!

Swerv-o

Not necessarily.

I believe that in Queensland the regulations stipulate that you must not have had an interest in a home anywhere. This includes overseas.

In NSW the regulations specifically state you must not have had an interest in a home anywhere in Australia.


S

Jacque

Read more here about eligibility requirements:

http://www.osr.nsw.gov.au/benefits/f...l/eligibility/

The First Home Plus scheme (stamp duty concessions) is generous and means that first home buyers can apply an exemption on stamp duty up to $500K here in NSW. Sliding scale then whittles the concession down to nil by the time you get to $600K. See here for rates on osr website calculator:

http://www.apps05.osr.nsw.gov.au/ere.../fhpsimple.php

As for not buying in Sydney under $500K- rubbish! More than half of Sydney's suburbs have a median price under this amount. It depends on WHERE you want to live. Big difference between Mosman and Merrylands

carolinephillips

Thanks for the info- as far as we are concerned we are tied to the northern area as DD goes to school in Gordon, and OH has to get to CBD by rail. In these areas there is nothing under 500k unless you are talking 1 bed studio apartments!!! We have looked out as far a Berowra too.
Caroline