REIWA President David Airey said REIWA’s lobbying efforts had successfully prevented the government’s bid to scrap the first home buyers stamp duty concession altogether.
New stamp duty rates for first home buyers have been in effect this month. In the recent state budget, the tax-free threshold for first home buyers was lowered from $500,000 to $430,000. The FHOG remains at $3,000 for established dwellings and $10,000 for new constructions. For ordinary buyers, no changes were made to stamp duty.
Changes were also made to the Land Tax threshold with a 10% increase in rates.
Source: www.reiwa.com.au
