Abolishing Stamp Duty for First Home Buyers
Foula Markos
As of 1 July 2017, there will be no stamp duty payable for new or existing properties purchased by first home buyers (FHB) for properties under $600,000.00. There will be concession or discount applicable to purchases between $600,000.00-$750,000.00.
This allows FHB to use more of their savings towards their new home. It could be a saving of up to $15,000.00.
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