Is stamp duty applicable?

[Craig-G]

Hi guys,

Hoping for some clarity on my situation:

I currently own 1 IP purchased in 2007 and have never lived in it so when purchasing my first PPOR I am aware that I am still eligible for the FHOG. The question is how will my stamp duty be affected if purchasing this PPOR in WA for around $350,000 - am I still eligible for the <$500,000 exception for first home buyers or does the IP exclude me and leave me up for the full amount?

Cheers - Craig

 

[Alex P Keaton]

Hi

I found this thread

re Stamp duty

 

[Craig-G]

Thanks Kim5,

The thread link was actually the one that got me thinking in the first place. In the post there is reference to not getting the stamp duty concession however I have been unable to track down any official information.

Any further points in the right direction appreciated.

Craig

 

[Alex P Keaton]

Thanks Kim5,

The thread link was actually the one that got me thinking in the first place. In the post there is reference to not getting the stamp duty concession however I have been unable to track down any official information.

Any further points in the right direction appreciated.

Craig

Yeah I was trying to find some info at wa's department of tresuary and finance site but couldn't find what i was looking for.

I have a feeling that you are only exempt if you didnt apply for the first home owners grant when you bought your ip. The first home owners grant of $7000 also includes exemption of stamp duty.


Check out this fact sheet.
WA's Department of Treasury and Finance

It is not 100% clear

There is an email contact right at the bottom.

If you find out any info, please share here with us, because I would like to know to.

 

[Craig-G]

It looks like it is just the 2 of us on this post Kim5.

I found the below information on the DTF WA website.

"First Home Owner Rate of Stamp Duty


A first home owner may be eligible for the first home owner rate of stamp duty on a contract for the purchase of a home or vacant land where the contract is executed on or after 1 July 2004 and the Commissioner of State Revenue has authorised eligibility to receive a first home owner grant under the First Home Owner Grant Act 2000 . The first home owner rate of stamp duty is also available to first home owners who receive land or a home as a gift in certain circumstances."

Based on my interpretation of this statement - stamp duty exemptions follow the same rules as the FHOG. If this is correct you can own an IP and as long as you have not lived in it still be eligible for no stamp duty on your PPOR (assuming <$500,000).

Sure hope this is the case.

Craig

 

[Alex P Keaton]

It looks like it is just the 2 of us on this post Kim5.

I found the below information on the DTF WA website.

"First Home Owner Rate of Stamp Duty


A first home owner may be eligible for the first home owner rate of stamp duty on a contract for the purchase of a home or vacant land where the contract is executed on or after 1 July 2004 and the Commissioner of State Revenue has authorised eligibility to receive a first home owner grant under the First Home Owner Grant Act 2000 . The first home owner rate of stamp duty is also available to first home owners who receive land or a home as a gift in certain circumstances."

Based on my interpretation of this statement - stamp duty exemptions follow the same rules as the FHOG. If this is correct you can own an IP and as long as you have not lived in it still be eligible for no stamp duty on your PPOR (assuming <$500,000).

Sure hope this is the case.

Craig

Yeah it all sounds a bit ambigous doesnt it. I remember reading about this in a topic here but cant remember what they said/and cant find it

I'll bump this thread up, maybe someone else knows.

?? anyone


Any new homebuyers out there that know?