50+ Do First Home Buyers Have To Pay Stamp Duty In Victoria? Pics. Victoria's leading business group wants the state government to abolish stamp duty, in what would amount to major tax reform. It can costs tens of thousands of dollars, but there are concessions and exemptions to help keep costs down for first home buyers.
We have great news for buyers looking for their first home in victoria — stamp duty can be completely waived for those who purchased after 1 july 2017. In victoria, you will pay stamp duty, also known as land transfer duty, when you purchase a home or investment property. So who can avoid stamp duty you need to pay stamp duty within 30 days of purchasing your home, otherwise the government may charge you penalties and interest on top.
How is stamp duty calculated in victoria?
Most state and territory governments provide stamp duty concessions to first home. Home buyers in victoria, are eligible for a concession of the stamp duty when the purchase price is up to $550,000 and you intend to and the transfer of ownership has to be registered, and the state government charges a fee for managing the register. We have great news for buyers looking for their first home in victoria — stamp duty can be completely waived for those who purchased after 1 july 2017. Is ideal as you won't have to pay lender's mortgage insurance.
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