Important News for First Home Buyers
The Budget recently announced a reduction in the Stamp Duty Exemption Thresholds for First Home Buyers. These changes are effective now (as of July 3, 2014). Previously, eligible First Home Buyers could purchase a property up to $500,000 and pay no Stamp Duty. The new thresholds have reduced the purchase price to $430,000 to pay no Stamp Duty. First Home Buyers will also get concessional Stamp Duty up to a purchase price cap of $530,000 (previously $600,000).
For more information please refer to the Factsheet First_Home_Owner_Rate_Of_Duty