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Are you thinking of buying an off-the-plan property?

Check this out:

VIC Government slashes stamp duty for off-the-plan property buyers - savings available immediately, Oct 2024 Victorian government's stamp duty cuts on off-the-plan apartments, units, and townhouses offer significant savings for property buyers. Learn more about eligibility, how to benefit, and why now is the prime time to buy with these expanded concessions.

If you are thinking about buying a property, I thought that I should share as it might be of interest.

I received this from my solicitor, so here it is:

Off-the-plan duty concession

On 21 October 2024, the Victorian Government announced a new temporary off-the-plan land transfer (stamp) duty concession.

Learn more here.

Buying a home before any building works have started or have finished is commonly known as buying off the plan. When you buy off the plan, you may be eligible for the off-the-plan duty concession that can apply to contracts for:
land and building packages
lots in vertical developments (such as residential towers)
lots in horizontal developments (such as low-rise apartments and unit complexes)
refurbished lots.

These properties may or may not involve a new subdivision.
The date of the contract is important as it affects the scope of the off-the-plan concession.

MORE INFORMATION SEE THE LINK:
https://www.sro.vic.gov.au/offtheplan


Regards,

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Charmaine Offer
Principal

M: 0411 637 341
E:[email protected]
A: Level 1/2-8 Lake St, Caroline Springs VIC 3023

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Off-the-plan duty concession | State Revenue Office Buying a home before any building works have started or have finished is commonly known as buying off the plan. When you buy off the plan, you may be eligible for the off-the-plan duty concession that can apply to contracts for: land and building packages lots in vertical developments (such as resid...

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