50% Cut on Stamp Duty
Posted Tuesday, 10 May 2011 at 00:09 by Michael Chan
Tagged: Hint/Tip | house prices
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50% Stamp Duty Cut for VIC FHO
COALITION TO SLASH STAMP DUTY FOR FIRST HOME BUYERS BY 50 %
This week’s Victorian state budget for 2011–12 is good news for Melbourne property investors, according to the Real Estate Institute of Victoria (REIV), stamp duty is set to be cut by 50 per cent between July 1st 2011 and September 1st 2014, with the initial 20 per cent cut implemented in July. This applied to eligible FHO on principle place of residence.
First Home Buyer Stamp Duty Reduction Schedule
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| Cut |
-20% |
-10% (30%) |
-10% (40%) |
-10% (50%) |
| Timing |
1 July 2011 |
1 January 2013 |
1 January 2014 |
1 September 2014 |
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