Previously the State Government’s stamp duty regime favoured off-the-plan buyers of house and land packages. These buyers paid stamp duty only on the price of land whilst off-the-plan apartment buyers were charged stamp duty on the full purchase price.
Finally this has changed, with the State Government’s decision to offer a stamp duty rebate for off-the-plan apartment buyers. The State Government’s new initiative means that if you purchase an apartment pre-construction commencement you will be eligible for a 75% transfer duty rebate of up to $50,000.
The rebate is applicable to all buyers from first homebuyers (who already benefit from the stamp duty concession however currently the purchase price is capped) through to second or subsequent homebuyers.
There will be no cap placed on the purchase price and multiple rebates will be available to the same applicant for additional unit or apartment purchases within the same or different developments.
This is great news if you’ve been holding off buying a luxury apartment at Aviva on Broadway, Crawley with the change effective immediate.
Register your interest today and one of our sales representatives will be in touch.