 | This is general advice only and is a brief summary. For full details please click here and seek specific advice. What? Rebate of stamp duty and foreign buyers duty for multi-tiered developments (apartments) How? Sign a pre-construction contract between 23 October 2019 and 23 October 2021 Sign a contract to purchase a new unit or apartment already under construction between 4 June 2020 and 31 December 2020 |
When? Construction must be completed within 36 months of the contract being entered into
Tests? Must be a multi-tiered development (apartments)
Limits? 75% of the duty paid, capped at $50k max for a pre-construction contract
75% of the duty paid, capped at $25k max for a contract under which construction has already commenced
There is no cap on purchase price
Multiple rebates can be paid on separate transactions
Who? Owner occupiers and investors
Natural persons, corporations, trusts and foreign buyers
Applicant must be named on the pre-construction contract
Apply? Within 12 months of the completion date
To discuss the scheme in more detail, or to find out how much you qualify to borrow to purchase off the plan, contact us for an obligation free appointment.
Tests? Must be a multi-tiered development (apartments)
Limits? 75% of the duty paid, capped at $50k max for a pre-construction contract
75% of the duty paid, capped at $25k max for a contract under which construction has already commenced
There is no cap on purchase price
Multiple rebates can be paid on separate transactions
Who? Owner occupiers and investors
Natural persons, corporations, trusts and foreign buyers
Applicant must be named on the pre-construction contract
Apply? Within 12 months of the completion date
To discuss the scheme in more detail, or to find out how much you qualify to borrow to purchase off the plan, contact us for an obligation free appointment.
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