QLD Investor - Buying first PPOR - Stamp Duty

Hi Everyone,
For some reason I was of the belief that if I had never owned a PPOR, yet had previously purchased investment property in QLD in my name, which was never lived in, I could claim the first home buyers exemption on stamp duty.

Was I incorrect in this?

Would I be eligible for the "home concession" and NOT the "first home concession".

Home Concession:
Home concession | Homes and housing | Queensland Government

First Home Concession:
First home concession | Homes and housing | Queensland Government

Thanks for the chat.

 

The first line of the first link says this:

You can claim a first home concession if you:

• have never held an interest in residential land anywhere in the world

Sounds like you're out.

 

Yes that was my interpretation also, just wanting to know if anyone could clarify/confirm.

Seems kind of a bogus rule if you ask me. I've paid my stamp duty on all the investment properties and never owned a home of my own.

I cant see how owning an investment property first could be used to avert stamp duties or anything to the point that you would not gain from a concession when you do buy your own home.

 

Have a look at the actual law.

Duties Act QLD
DUTIES ACT 2001

Search on that page for "first home" and then have a read of the relevant sections.