Browse Forums Building A New House 1 Feb 21, 2008 1:13 pm Hi everyone,
not sure if this is widely known or not, but in Vic you can apply for a concession on your stamp duty. It applies to those who are purchasing an existing home, or land on which to build a home, that you intend to occupy as your principal place of residence (PPR) within twelve months of the settlement date whether or not you are first home owners. We stand to save around $1250 off our stamp duty. The link to the form is below: http://www.sro.vic.gov.au/sro/SROWebSit ... orm-53.doc Just thought I'd put it out there Cheers, Tim -------------------------------------------------------- Built 'Cremorne 41' with PD - Handover took place in Nov '08 http://homeforourcherubs.blogspot.com/ Re: Principal Place of Residence concession - in Vic 2Feb 21, 2008 7:32 pm Hi
Is this still applicable if you have already received the first home buyers bonus on your first house and are now building/buying another to live in permanently Cheers Re: Principal Place of Residence concession - in Vic 3Feb 22, 2008 6:22 am Hi Rowan, here is the blurb from the Form. You may need to interpret it for your own circumstances:
A PPR concessional rate of duty may apply where the dutiable value of the property is more than $115,000 but not more than $500,000 and the contract of sale was entered into on or after 1 January 2007. The PPR concession has a maximum value of $2850. If you are buying or have bought a property as your PPR and you are a first home owner you may have access to the First Home Owner Grant (FHOG) of $7000 (see the FHOG Application and Lodgement Guide) and the First Home Bonus (Bonus) of either $3000 or $5000 as well as the PPR concession. However, as the Duties Act 2000 does not allow you to receive both the Bonus and the PPR concession; you must elect to receive one or the other. It is in your favour to elect to receive the Bonus as it is worth more than the PPR concession. If you do elect to receive the PPR concession, you must repay the difference between the Bonus and the PPR concession. You do not need to complete this form if: • you qualify for or have been granted the FHOG and you are also eligible for the Bonus of either $3000 or $5000, as you will automatically be given the Bonus; or • you qualify for the Pensioner exemption/concession (see SRO Duties Form 8C) as you will automatically be given the PPR concession; or • you qualify for the First home owner exemption/concession (see SRO Duties Form 7C) as you will automatically be given the PPR concession. Complete this form only if: • you are purchasing an existing home, or land on which to build a home, that you intend to occupy as your PPR and are not entitled to the FHOG and Bonus but are eligible for the PPR concession; or • you are purchasing an existing home, or land on which to build a home, that you intend to occupy as your PPR and are entitled to the FHOG and Bonus but elect to receive the lesser amount of the PPR concession. In this case if you have received the Bonus you must repay the difference between the Bonus and the PPR concession. I hope it works in your favour Cheers, Tim -------------------------------------------------------- Built 'Cremorne 41' with PD - Handover took place in Nov '08 http://homeforourcherubs.blogspot.com/ Use a product like Equisol's Vitalise to clean the deck then coat with a penetrating timber oil. It will look 10 years younger and add value to your home. Visit for… 1 15765 Appreciate that Chippy. I won’t do sand under pavers and will connect all up under pavers, however I was going to do: 1) Roadbase compacted with manual hand tamper 2)… 10 18551 |