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Stamp Duty Reductions for First Home Buyers

By Eleanor Hopkins

From September 2014 the Victorian Government offers eligible first home buyers a duty reduction when they purchase a new or established home. The duty reduction applies where you buy a principal place of residence valued at not more than $600,000.

Victorian Treasurer Michael O’Brien said the increase would help Victorians considering entering the home ownership market.

“This is a very important measure which will make home ownership more affordable for tens of thousands of Victorians and will help to support jobs in our building and construction industry,” he said.

“Stamp duty concession applies to all first home owners, whether they’re buying newly constructed or established stock, up to a value of $600,000,” he said.

To check if you are eligible please go to
http://www.sro.vic.gov.au/ca25758c001d283e/LinkView/3F85F5AD85FA6222CA2575CB0000CC638024A4ADFB9DAED9CA2575A1004420DC

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