Does paying no stamp duty apply to first time property investors?

Discussion in 'Property Experts' started by showtime94, 25th Jul, 2021.

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  1. showtime94

    showtime94 Well-Known Member

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    Just wondering if the no stamp duty applys to firsg time property investors? Or is that only if your going to live in the property?
    Asking for somone. He lives in nsw looking to buy in qld
    Thanks
     
    showtime94, 25th Jul, 2021
    #1
  2. B7B

    B7B Well-Known Member

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    Only for first home buyers, not investors.
     
    B7B, 25th Jul, 2021
    #2
  3. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    For any of the first home buyer concessions or grants to apply, you need to move into the property within 12 months (at most) and live there for 12 months. Plenty of people have used the concessions to get into the market and buy what will ultimately be an investment property, but they still live there initially as a first home buyer.
     
    Peter_Tersteeg, 25th Jul, 2021
    #3
  4. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    And if you use it - Its gone. You can only ever be a first time buyer once anywhere. There are also options to NOT claim it for a IP and defer it for when you buy a home. As its a state based system its important to consider the respective state rules carefully as they can very a bit in small details.
     
    Paul@PAS, 27th Jul, 2021
    #4