JUST ANNOUNCED! NEW STAMP DUTY DISCOUNTS
On Tuesday, 24 November the state treasurer, Tim Pallas, handed down the delayed budget. With the state recording zero new cases of coronavirus and zero active cases across the state, the budget reflects a hopeful positivity that Victorians may begin to return to ‘life as normal’.
Although the future is looking good, the state has still experienced job losses in numbers close to 300,000, making the budget a huge contributing factor to the future of Victoria’s economy.
In great news for home buyers, tax relief on stamp duty for new residential property means buyers can save 50 per cent on new homes bought before 30 June 2021.
On a property worth $700,000, this means savings of more than $12,000 for first home buyers and more than $18,000 for all other owner occupiers!
With the local property market on the up and up, and newly announced stamp duty discounts set to make buying a new home even easier, now is the best time to call Live City home.
Here is an example of how much you could save on a completed three-bedroom apartment at Live City.
Luxurious three bedroom apartment – from only $708,000
First home buyers normally pay a stamp duty of more than $27,000 with the $10,000 first home grant.
Now, pay less than $15,000 stamp duty on your first home!
All other owner occupiers normally pay stamp duty of more than $37,500.
Now, pay less than $20,000 stamp duty on your next home!