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Stamp duty and First Home Buyer Grant changes

8 May 2013 St Kilda 0 Comment

The State Government has announced changes to financial assistance for first home buyers. Specifically they have announced;

The First Home Owners Grant is applicable from the date the contract is signed. The stamp duty discount is applicable on settlement date. This means that for new or established homes purchased between now and 30 June and which settle on or after 1 July the first home buyer may be eligible for the $7,000 First Home Owners Grant and 40 per cent stamp duty discount. When applied to a range of price points this means that first home buyer may be eligible for;

 

Price Purchase now, settle before 1 July

Value of government assistance (30% duty cut+Grant)

Purchase now, settle after 1 July

Value of government assistance (40% duty cut + Grant)

Purchase and settle after 1 July 2013

Value of government assistance (40% duty cut)

$400,000     $11,911 $13,548 $6,548
$450,000     $12,691 $14,588 $7,588
$500,000     $13,591 $15,788 $8,788
$550,000     $14,491 $16,988 $9,988


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