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Stamp Duty Changes to Queensland Budget announced 14th June 2011.
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Stamp Duty Changes to Queensland Budget announced 14th June 2011.
Residential Home owners will now be treated the same as Property Investors, with the same rate of Stamp Duty. Using the median property price in April 2011, from RPData, of $430,000 for a Brisbane property, the stamp duty figures work out at:
.....................................................Up to July 2011..................From 1st Aug 2011
First Home Buyer...............................$ Nil........................................$ Nil
Residential Home Owner.................$ 6,300..................................$ 12,875
Investor .........................................$ 13,475..................................$ 12,875
The new Budget also offers a $10,000 boost to buyers of new homes or building new homes valid for 6 months from the 1st August 2011.
.....................................................Up to July 2011..................From 1st Aug 2011
First Home Buyer...............................$ Nil........................................$ Nil
Residential Home Owner.................$ 6,300..................................$ 12,875
Investor .........................................$ 13,475..................................$ 12,875
The new Budget also offers a $10,000 boost to buyers of new homes or building new homes valid for 6 months from the 1st August 2011.
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Thanks Steve, will be interesting to see the impacts this time around.
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Yes. It will be very interesting. I am guessing the market will pick up with extra interest from home buyers up to 1 Aug to get the lower stamps. If you had to move, why wouldn't you do it before Aug to save $5-10 thousand in stamp duty taxes.
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The opinions expressed here are those of the individual and not those of Homely.com.au.
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The opinions expressed here are those of the individual and not those of Homely.com.au.
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To Kabaly:
The rates for LAND are the same as houses in QLD. If you would like to calculate the exact amount of samp duty for a home or land in QLD I have provided the link to the Office of State Revenue. Hope this helps...http://goo.gl/qMhMC
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