emmakc1977

Another question...

I was playing with one of the mortgage cost calculators online and it had a tick button "first time buyer". If I ticked the first time buyer button it took off the stamp duty. Does this mean that first time buyers don't have to pay stamp duty in Australia? I understand its quite hefty over there!

Thanks.

hereshoping

No they do pay stamp duty, it's just that they also get a first homebuyers grant (amount differs from state to state in VIC I think it is $7,000) which means they pay less.

You still get this even if you have previously bought in another country

nickyjohnt

In WA you don't pay stamp duty as a first time buyer if the property is under $500k, you will also qualify for first time buyers grant about
$7k
Good Luck

John

ozzydreamer

Ive also been looking into this - and searched these forums and came up with various answers.
Each state has its own rules for stamp duty, and some people even found that one person would say they dont have to pay s.duty even if you own a property in another country where as other people say you do have to pay s. duty if you have or do own a property elsewhere etc.

But then Ive only been looking into this today - so I could have got the wrong impression.

If you search 'stamp duty' in the Australia forum there are lots of threads about it - happy reading

emmakc1977

Thanks guys, I've been reading whilst you lot have been replying! I've found a document printed by the Office of State Revenue NSW Treasury (searched google under First Home Plus Australia) and it says that first time buyers get $7,000 First Home Owner Grant and exemptions and concessions on duty under First Home Plus and First Home Plus One which states that you don't pay stamp duty on property up to $500,000 (saving of $17,990). Then it's reduced at a reduced rate between $500,000 and $600,000 where you get no discount.

You also get a mortgage duty concession of 100% up to $500,000


If anyone has any info on QLD or South Australia Id be grateful!

Sammy T

Hi

Having started doing some research into this (whilst waiting for visa)
I found these links:

http://www.echoice.com.au/mortgage/h...tors/stampduty.

http://www.dtf.wa.gov.au/cms/osr_content.asp?ID=178

http://www.moneybuddy.com.au/home-lo...tamp-duty.html

From what I can gather, stamp duty is payable in all states although the amount does vary between the states and obviously how much the property is worth.

Hope that is of some help

Sam