First Home Buyers in Victoria now receive a 50% reduction in Stamp Duty.

The discount applies homes settling on or after September 1st, 2014 purchased by buyers who meet the criteria.

Purchases settled prior to this date were still eligible for a 40% discount on the standard rate but there was still a reasonable incentive to delay settlement until the start of Spring.

The new changes will save First Home Buyers an additional $1,600 for a property worth $400,000 compared to the previous discount and more than $8,000 compared to people who do not meet the criteria.

Leave a Reply

Your email address will not be published. Required fields are marked *