Straight from ANZ.
" Two major changes for New South Wales and Victoria are detailed below:
• NSW Advalorem fee abolished
The NSW ‘ad valorem’ fee (this is an extension to the Transfer of Land fee)
introduced 1 July 2010 has been abolished. Purchasers entering into agreements to buy property on or after 1 July 2011 will no longer incur this fee.
• Victoria has reduced Land Transfer Stamp Duty for First Home Buyers
For settlement dates from 1 July 2011, first home buyers will be eligible for the reduction in land transfer stamp duty for homes valued up to $600,000.
To date we have not been advised of the pending changes to Queensland fees"
Not a huge change ,...but it's a start
Regards
Michael
" Two major changes for New South Wales and Victoria are detailed below:
• NSW Advalorem fee abolished
The NSW ‘ad valorem’ fee (this is an extension to the Transfer of Land fee)
introduced 1 July 2010 has been abolished. Purchasers entering into agreements to buy property on or after 1 July 2011 will no longer incur this fee.
• Victoria has reduced Land Transfer Stamp Duty for First Home Buyers
For settlement dates from 1 July 2011, first home buyers will be eligible for the reduction in land transfer stamp duty for homes valued up to $600,000.
To date we have not been advised of the pending changes to Queensland fees"
Not a huge change ,...but it's a start
Regards
Michael
