VIC - Stamp duty 'refund' ?

Hello Experts,

Purchased a land early of the year and got a land loan with all the relevant fees/stamp duty paid, but construction loan only got finalised last week, and were told by the bank that i can get some 'refund' from the stamp duty i paid during the land loan application, but the bank is not responsible for this process..

Anyone done this before ?? Should it be done after the house completed the build ??

Land price $165k, Stamp duty paid $4620, House valuation $390k, Contract price (h+l) $406k

Thanks in advance.

Hi, I have just received out refund after filling out the relevant documentation required. You need to fill it out and send it into state revenue office and 50% of your stamp duty paid you get back 60days later.
You can do it now that you've settled on the land.
The form you need to do is the duties form 61

Daniel5510, my bank told me i cant apply until a house been built on the land.. may i know when did you apply for the refund ?? after the house completed ??

I applied and provided all info at the beginning of our build... it is currently still building now and we have received our refund.
We bought our land separate and not as a h+l package, I don't know if that makes a difference.
The details you need are about you land and you need a UIN number that you are given from getting the FHOG

Daniel5510, the bank is in the process of applying the FHG, so i need to get the details from the bank, then only can apply for the refund, i guess?

Yes, you need to ask for the UIN number. As long as your land is settled I'm sure you can apply for the refund

daniel5510, thanks for the information.. will ask the bank for the UIN information

No worries at all

Hi Annielee,

The time frame is very important here. To be eligible for the First Home Owners Grant stamp duty refund, you need to have constructed the house and moved into it within 12 months of settlement of land. If it is longer than that then you cant apply for the refund.

That's why the bank is telling you that it needs to be done after the house has been built. So you know if the 12 month time frame has been met.

Cheers,

Tom

thanks for the information.. not sure whether im going to meet the 12months deadline.. as my land settled April this year..and just finalized the build contract and now waiting for the build permit.. which the builder mentioned the earliest start date will be in Nov and completion date maybe in June ?.. so i will be missing the boat, i guess..

Annielee,

I suggest you give the SRO of Victoria a call to confirm.The rules do change from time to time.

Cheers,

Tom

just called the SRO office, seems that i've to meet the 12months deadline (build completed and living there) but the agent did mentioned i can appeal with valid reason. im thinking to apply now, my house is in the framing stage at the moment.. im pretty sure i will not meet the deadline come early April..

Hi All,

My FHOG has been granted and i have got UIN Number. I would like to apply for Stamp Duty Rebate as i paid full on 300k land. Can anyone guide me how to do it please.?

Please help.!!

Thanks