NSW- Stamp Duty Concessions

Discussion in 'Legal Issues' started by Alina Novak, 14th Oct, 2019.

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  1. Alina Novak

    Alina Novak New Member

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    Sydney NSW 2000
    Hi All,

    Just joined so my question might be discussed elsewhere, my apologies. I did search before posting but found very old posts.

    Me and my husband own an IP property in NSW bought May 2017, never lived in it. Now looking to but a property to live in. Can we apply for a stamp duty concession?

    I did read the Act and relevant definitions. On the face it seems that we are non-eligible but then may be someone argued that residential does not necessarily mean an investment ...
    Also at the bank a lending manager said to check with a conveyancer as she is pretty sure that some ppl do get it since they have paid a full stamp duty on their IP and never lived in it and this time its for a living...

    I am mostly interested whether someone has successfully applied for a concession and was granted one whilst already owning an IP in NSW?

    Thank you
    Much appreciate your help.
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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  3. Alina Novak

    Alina Novak New Member

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    I did look at the acts as I mentioned above. It does not answer my question...
     
  4. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    are you sure about that? s71 probably covers it.
     
  5. Alina Novak

    Alina Novak New Member

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    I know but as i mentioned may be someone argued that residential does not necessarily mean an investment and was granted a relief ... Just wanted to check whether there is no loophole etc.
     
  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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  7. ttn

    ttn Well-Known Member

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    Will you apply for a First Home Owner Grant? Normally if you received a FHOG then you might get a Stamp Duty Concession as well (based on transaction value). Better check with OSR

    Pretty sure people have IP then buy their PPOR still eligible for FHOG
     

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