STAMP DUTY ABOLISHED FOR FIRST HOME BUYERS UNDER $600,000 IN GIPPSLAND
Monday, March 06, 2017
Stamp duty will be abolished for first home buyers for purchases below $600,000. This will assist first home buyers in Gippsland find their first home, as the Andrews Labor Government tackles housing affordability head on.
Those buying a home in Gippsland valued between $600,000 and $750,000 will also be eligible for a concession, applied on a sliding scale.
The exemption and concession will apply to both new and established homes, in a move that could help hundreds of people in Gippsland find their first home.
In a further move to help first home buyers in Gippsland, the Government will also remove off-the-plan stamp duty concessions on investment properties.
It means the off-the-plan stamp duty concession will now be available solely for those who intend to live in the property or who are eligible for the first home buyer stamp duty concession.
This is all part of the Labor Government’s plan to help more Victorians break into the housing market.
Quotes attributable to Member for Eastern Victoria Region, Harriet Shing:
“In the past, if you worked hard and saved enough, you could afford to buy your own home. Now, that’s getting harder and harder.”
“These changes will help first home buyers in Gippsland make the Great Australian Dream a reality.”
“We are making it easier for first home buyers in Gippsland to get their foot in the door.”