TRANSFER DUTY HOME CONCESSION TO CEASE FROM 31ST JULY
The Home Concession for transfer duty will end on 31 July 2011.
This is the transfer duty concession that people who are not first home buyers receive when buying a home to live in as their principal place of residence. If you are considering buying a home you should carefully consider the transfer duty reforms to help you make an informed decision about the timing of your purchase.
If you are currently considering an offer from a buyer – remember, the buyer will have to pay more from 1st August 2011.
The current transfer duty for buyers of a $400,000 home – who intend to make it their principal place of residence – is $5250. But from August this will rise to $11,825.
The tax on a $500,000 house will jump from $8750 to $15,525, A MASSIVE $6,775 MORE!
DISCLAIMER We have in preparing this information used our best endeavours to ensure that the information contained therein is true and accurate, but accept no responsibility and disclaim all liability in respect of any errors, inaccuracies or misstatements contained herein. Prospective purchasers should make their own inquiries to verify the information contained herein. All information contained in the CENTURY 21 Australia Pty Ltd website is provided as a convenience to clients. All property prices displayed on the Website are current at the time of issue, but may change at any time and are subject to availability.