The Duty Concession is a concessional rate of duty on the purchase of a property by a First Home Buyer. There are two types of concession available.
The first relates to the purchase of established dwellings. A concession of up to a maximum of $4 000 will be applied to the purchase of established dwellings with a purchase price of $350 000 or less.
The second relates to the purchase of land on which a builder or an owner builder subsequently erects a dwelling under a comprehensive home building contract. The maximum concession available in relation to the purchase of vacant land is $2 400, providing the purchase price of the vacant land is $175 000 or less.
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