Browse Forums General Discussion 1 May 05, 2011 1:58 pm G Day Guys I bought land in Tarneit to build my First home.I Paid 5% deposit on April 4 2011 and the land is expected to be titled in August 2011.I am wondering if i will get 20% rebate in stamp duty as state govt is going to cut stamp duty by 20% from july.As far as I know stamp duty is to be paid during or before settlement. Re: Stamp Duty Cuts VICTORIA 3May 05, 2011 5:00 pm It will probably go on the date of the contract of sale, since all the rates the SRO uses are dependent on that date. So I'd say the answer is most likely "No". Think about it - when you go to the SRO's online stamp duty calculator, what's the first question you're asked? http://www.sro.vic.gov.au/SRO/SROCalcs.nsf/transfer?OpenForm Re: Stamp Duty Cuts VICTORIA 4May 06, 2011 12:04 pm Kinda off topic, Is it just me, or is this a bit of a gimmick. Stamp duty on a block of land would be what, $10000 - $15000? so thats only $2000 - $3000. Sure it helps, but it isn't going to change house prices... Re: Stamp Duty Cuts VICTORIA 6May 06, 2011 1:55 pm B STAR stamp duty on blocks is less than that!!!!! Unless its in an expensive area. I was thinking best case. $300,000 block. If its smaller, then the saving is even less relevant. Re: Stamp Duty Cuts VICTORIA 7May 06, 2011 4:30 pm Stamp duty on a block only of $300k is $11,370 on 30/4 Re: Stamp Duty Cuts VICTORIA 9May 06, 2011 4:48 pm chrisandkate Stamp duty on a block only of $300k is $11,370 on 30/4 So thats a saving of $2274. Sure it all helps, but I just can't see that effecting house prices which is the intention. Even when it get to 50% thats $5685. If your that tight on your budget, you probably need to re consider build at all imo. Re: Stamp Duty Cuts VICTORIA 10May 07, 2011 7:01 am Wish they had of cut stamp duty when I bought my first house. FHOG didn't even cover half the duty Land Deposit - 18/12/2009 Became a land Baron - 21/12/2010 Site Start - 27/1/2011 All moved in!! Re: Stamp Duty Cuts VICTORIA 11May 07, 2011 11:03 am What is this FHOG you speak of? I bought in 2005 and didn't get it because my wife had previously "owned" a house with a partner before we met. By "owned" I mean he put her name on the loan documents without her consent and she never saw any of the money once it was sold. Even though she contributed to the household. His argument was that his wage paid teh mortgage and hers only paid for food, bills, etc... She was not good shape when they split so she just let it go. We couldn't get a mortgage with just my wage and wanted the house in our names not just one. So we did the right thing and didn't claim it You do the right thing and get screwed sometimes. Personally I think If you can;t afford to purchase/maintain/service a house with out the grant you shouldn't be buying. And stamp duty cuts aren't supposed to make housing more affordable, they're only there to take some heat off the gov. Prices will continue to rise and the gov will make the same amount back over time. Re: Stamp Duty Cuts VICTORIA 12May 28, 2011 6:21 am Just figured out that if settlement is on or after 1st july 2011,we will be eligible for 20%cut in stamp duty.Thatz an additional upgrade for my home
http://www.heraldsun.com.au/news/more-n ... 6064491095 Re: Stamp Duty Cuts VICTORIA 13May 28, 2011 9:32 pm garyoz007 G Day Guys state govt is going to cut stamp duty by 20% from july.As far as I know stamp duty is to be paid during or before settlement. You must have misunderstood. You say that government is going to reduce a tax by 20%?? Impossible! (I hope you get the reduction) Re: Stamp Duty Cuts VICTORIA 15May 28, 2011 10:17 pm garyoz007 Just figured out that if settlement is on or after 1st july 2011,we will be eligible for 20%cut is stamp duty cut.Thatz an additional upgrade for my home http://www.heraldsun.com.au/news/more-n ... 6064491095 I saw that article today, I thought about you when I saw it and was going to put something on here and you had allready done it. Every little bit helps, i'm glad your getting your cut. Re: Stamp Duty Cuts VICTORIA 16May 30, 2011 4:31 am Not sure if this is also relevant, but we have been advised by our solicitor that if we are building a home as our primary residence and build within 12 months of the land settlement, that we can apply for the 'Principal Place of Residence Concession' which will entitle us to receive a refund of the stamp duty paid on the price of the land. Re: Stamp Duty Cuts VICTORIA 17May 30, 2011 7:55 am mimi23 Not sure if this is also relevant, but we have been advised by our solicitor that if we are building a home as our primary residence and build within 12 months of the land settlement, that we can apply for the 'Principal Place of Residence Concession' which will entitle us to receive a refund of the stamp duty paid on the price of the land. Is this right? Excellent! Re: Stamp Duty Cuts VICTORIA 20May 30, 2011 4:53 pm deb17 Principle Place of Residence, you only get a cut, not the full refund. We have completed the paperwork and have been informed by our solicitor that it is a full refund of the stamp duty paid on the land. This is for Victoria. Will need to double check this I think. This should not happen, when the timber arrives on site, bent studs should be separated to be cut for noggings and blocks. The studs should never be bad enough to… 4 11853 For reference, this is the Austlii reference. My take on this is, that they would be breaking the law denying access to a homeowner in Victoria, or their agent from having… 1 9099 Hey everyone Not for me or anyone I know, just generally interested. For a single allotment house, are you allowed to take the fence on both sides of your house and… 0 20908 |