Stamp duty concessions - Vic

Discussion in 'Legal Issues' started by qak, 13th Nov, 2020.

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  1. qak

    qak Well-Known Member

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    I've been asked - if a couple are buying a property in Victoria, and one is a FHB and the other is not - I gather there is no entitlement to any FHB grants.

    Does the same rule apply to stamp duty concessions - they both miss out because one is not a FHB? Or can they potentially get a discount on half?

    (I'm in NSW, no Vic, and missed out on all these concessions, so have no idea).

    Edit - a reference would be good too please:cool:
     
  2. Terry_w

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

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    Had a look at the duties act?
     
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  3. KateAshmor

    KateAshmor Victorian Conveyancing Lawyer Business Member

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    If the previous home buyer never lived in the property they bought, they can still claim the first home buyer stamp duty concession (if the new property is being purchased to live in).

    And yes, all buyers must be eligible in order to claim the concession.
     
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  4. qak

    qak Well-Known Member

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  5. Terry_w

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

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    that section seems to relate to new homes, but unless you are a lawyer I wouldn't be advising on stamp duty law.
     
  6. qak

    qak Well-Known Member

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    IANAL!
    But helping a friend with their assignment.
    At least, I think I'm helping, they don't like my help because they think one person should get an exemption/concession ...
     
  7. Paul@PAS

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

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    Maybe not?
     
  8. Luca

    Luca Well-Known Member

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  9. qak

    qak Well-Known Member

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