iPom

Martin, you get both, my sweet.

soonbethere

good point.....
I can't understand why no one told us this before,(the bank and mtg advisers) we have been weighing up the total costs and been totally scared off by the price with stamp duty, although the $7k is great, it doesn't actually make that much of a differnece when the stamp duty is $30k!

tallbloke67

This is good news, brilliant, thanks iPom, your a star!

iPom

Yeah, well it's a scary figure, right?


http://www.firsthome.gov.au/


http://www.mortgageworldaustralia.co...oncessions.htm

Different concessions in different states guys, so check out where you live.

iPom

http://www.mortgageworldaustralia.co...oncessions.htm

Check out WA's current situation here. I think you get partial if you're over there.

The Johnstons

I don't know the ins and outs of it all but I'm sure that in WA everyone pays stamp duty - even 1st time buyers (sorry ). I checked on www.myrate.com.au and the stamp duty for a 1st time buyer (house value $500k) in NSW is $0, but in WA it's $20700. What a rip-off .
Tracey

soonbethere

Thanks, that brought us down to earth with a bang... well back to reality! the house prices here far exceed those price brackets, and even the land prices are rising at such a rate that there won't be many FTB's getting any rebates...... crafty gits!

iPom

http://www.dtf.wa.gov.au/cms/osr_content.asp?id=955

Says here there is a threshold in WA of $250K.

As you say, none in NSW, where I am. What a swizz!

Seems you WA people should consider NSW! Sorry for those of you heading there.

onepearlyb

Interesting stuff.
Anyone any ideas or links about what Melbourne offers for 1st time UK housebuyers in Oz???

*pearly*

katsmajic

hiya, I looked through your link Ipom...for SA, if property is below $80,000 you get full discount...where o where will you find a property under $80,000 near civilisation??? lol

the discount decreases after $80,000 and ends at $250,000.
were not looking for a palace but i think we can expect to pay full stamp duty!

good link though, thanks xxx

Pollyana

Like many many things in Aus, make sure you check for the State that you will be living in. An awful lot of rules differ as you cross the border.

mbike

The 250k threshold for WA was fine when it was set back in 2002, since the median house price was much less. Given the property boom of the last few years, however, prices have now completely lost touch with the threshold. 500k seems a sensible new level (like VIC and NSW) and this is apparently what the WA gvmt will be addressing in the next few months. The time lag, meanwhile, has been very profitable for them.

Mark

iPom

That's excellent news, Mark. Let's hope it's upgraded before these people get out there.

sassie

Does anyone on Queesnland know when the stamp duty rebates came into effect, as I have just found this.

As of 1st January 2007 eligible first home buyers in QLD are exempt from transfer stamp duty for purchases up to $320,000 for established homes and up to $150,000 for vacant land. Partial stamp duty rebates are available to first home buyers who purchase an established home for between $320,001 and $459,999 or $150,001 to $299,999 for vacant land. For complete details please visit www.osr.qld.gov.au

Big Galah

So, to repeat, because I was never sure about this one, in NSW if you're buying your first home you qualify for both the grant ($7K) AND nil Stamp Duty - regardles off the purchase price?

Great news if it's true. You're sure?

Big.