Re: Stamp duty HELP!!!
 

It'll get easier....eventually. It's just the 'not knowing' how things work which can be annoying.

Re: Stamp duty HELP!!!
 

Hi, I recently made enquiries to clarify whether there is any concession, stamp duty rebate, etc on buying a block as a first time home buyer, and this was their reply. This relates to Queensland.

"There were also no Concessions for Vacant Land available when you purchased your property in December 2005. The Qld Government has only just passed legislation effecting the First Home Vacant Land Concession. This
concession only applies to Contracts/Transfers executed on or after the 1st
of January 2007."

It may be worth looking into.

Re: Stamp duty HELP!!!
 

I have just got off the phone with the office of state revenue.

It appears there are two things at work here.

Firstly there is a 'First home owners transfer for duty consession'
Secondly there is the first home buyers grant

The differenence between the two is:

If you have ever owned a house anywhere in the world you are not eligable for the 'First home owners transfer for duty consession' which is essentially the calculation of stamp duty.

The second thing is the first home buyers grant, this is applicable to people are buying their first property in Australia.

So in a nut shell as we owned a home in the UK we dont qualify for a lower rate of stamp duty on the land, however we do get the first home owners grant.

Finally the thing I mentioned earlier regards the combined contract is only if the land is sold as a home and land package.

Re: Stamp duty HELP!!!
 

The stamp duty consession is only given to first time buyers who have never owned a property anywhere in the world, I think that's the same throughout Australia :)

SA's stamp duty is just too expensive though, I know they are looking into making the threshold higher though. That'll probably happen sometime AFTER I buy my house :D

Re: Stamp duty HELP!!!
 

The land we bought is beside a large reserve,owned by the state government.The plots were sold by the govt,and as it was a first release by them,we did not have to pay stamp duty so saved quite a bit, particularly as stamp duty in SA where we are is higher that some os the other states.
Don't know how well known this piece of info is,but neither our mortgage broker or conveyancer was aware of it.

Re: Stamp duty HELP!!!
 

It's different in some states Wendy.
If you take a look here : http://www.mortgageworldaustralia.co...oncessions.htm and check out the info for WA - it says that you get the Reduced Rate if you qualify for the First Home Owners Grant (which says you can't have owned property anywhere in Australia).

Re: Stamp duty HELP!!!
 

Buggers :mad:

I suppose that's the price we have to pay to live in the best state in Aus ;) :D

Re: Stamp duty HELP!!!
 

Ps - if you are the Marco currently beating me in the trivia comp - can you stop please !! :p

Re: Stamp duty HELP!!!
 

NO! :lol:

PS : I'm sure I can do better than 7 :p

Re: Stamp duty HELP!!!
 

Good luck - the questions I had were bloody difficult !!