The recent State Budget announced some changes to transfer stamp duty and grants which I thought you might like to know about – this could save you $$$$s if you are looking to purchase a property in the near future.
Building Boost Grant – The Ins and Outs
Transfer Stamp Duty:
Currently there is a Home Concession for transfer duty available to people who are not first home buyers when buying a home to live in as their principal place of residence – this concession will cease from 31st July 2011*.
So if you are considering looking to buy a new home to live in it would be worth trying to do this before the end of July! (*there will still be some concession on stamp duty for First home buyers though).
From 1 August 2011 both owner-occupiers and investors will pay the same rate of stamp duty. Details of the actual stamp duty rate changes are attached.
The existing $7,000 First Home Owners Grant is continuing and is available now – this was created to help people buy or build their first ever home. The grant applies to first home buyers purchasing a home with a value less than $750,000.
For more information or to see if you are eligible click here – First home owner grant—Office of State Revenue, Qld
New!! $10,000 Queensland Building Boost Grant:
Now for the really good news!!! …
This new grant is available to any person or corporation buying or building a new home to live in, or to rent out for investment purposes, for homes less than $600,000. This Building Boost Grant is designed to re-ignite Queensland’s housing construction sector following a combination of falling property transfers and the economic impact of a summer of natural disasters. That’s right … it’s for investors too!
This grant is available for a limited time only – from 1 August 2011 to 31 January 2012
Interested? Check out the Frequently Asked Questions document attached for further details or to check your eligibility go to – Queensland Building Boost Grant eligibility tester (Queensland State Budget)
Need help?
If you have any questions, or if I can assist with more information on the Building Boost Grant please give me a call on 1300 133 193 and I’d be happy to help you.
