PPOR gets a concessional rate .
on a house valued at 240k
concessional rate is arond $3000
full rate is around $7000-$8000
so the concession is significant
there are other important requirements to get the concessional rate, main one is u must live at address for 12 months - used to be 6 months. if u do not stay there for 12 months AND do not tell them in ADVANCE u intend to move out u will get a fine as well as having to pay the original amount of stamp duty. Fine is something like double
Basically the rule is that there can be tenants in it when you complete but they must not be in there for more than 6 months. Then you must move in and have it as your PPOR within 12 months of completion.
In our case we complete on our place on 4th Aug. The tenenats move out 12th Jan (5 1/2 months) and we will move in after that. In this way we can claim the stamp duty rebate.
Hi everyone,
I read somewhere on this forum that you can defer stamp duty for up to 3mths, is that applicable in qld ? If so how does one proceed with this ?