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Queensland Stamp duty Home Concession ending 30 July 2011 – Hurry in to sign your Contract today!! – By Jacinta Bennett – Property Law Paralegal

Friday, 22nd July, 2011 - Business and Commercial, General, Property Law, Residential Conveyancing

Are you currently in the market to purchase property in Queensland? Do you intend to move into the property as your principal place of residence within 1 year of purchasing and intend to live in the property for at least 1 year?

If yes, then you are eligible to claim the Queensland Home Concession. This concession provides the purchaser with a discount on stamp duty payable to the office of State Revenue, but it is now only available to purchasers who have signed a Contract before 31 July 2011.

Example – if a purchaser signs a dated Contract by 31 July 2011 for $400,000.00 and claims the home concession then stamp duty will be $5,250.00. If the Contract is dated 1 August 2011 then the stamp duty will be $11,825.00. That is a saving of $6,575.00!

From 1 August 2011 the home concession will no longer be available and all buyers will be charged the full stamp duty rate whether you intend to live in the property or not.

However if it is your first home then the usual first home exemption is still available.

At Attwood Marshall Lawyers, we are always happy to go through your Contract with you and provide free pre signing advice.

How can we help?

Please contact our office should you need further explanation in relation to the topics listed above or should you have any other queries regarding responsibilities or obligations of either the  Body Corporate or an Owner on 1800 621 071 or email info@attwoodmarshall.com.au or contact us using our online enquiry form.

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Attwood Marshall

Attwood Marshall

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  • Direct line: 1800 621 071

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