The new changes to the stamp duty threshold on vacant land will rise from $350,000 to $400,000 and will phase out at $500,000.
For first home buyers purchasing new homes, the stamp duty threshold will increase from the current $650,000 to $800,000 and will phase out at $1 million.
The change to the thresholds will only apply to newly-built homes and vacant land, not to existing homes, and will last for a 12-month period, commencing on 1 August 2020. Other purchases will continue to benefit from existing schemes.
This means as a new home buyer, you could be entitled to a benefit of up to $32,335.
*terms and conditions apply
Our team has a variety of stock within this range meaning we are able to assist anyone wishing the access the grant. Give the Highland Financial Services team a call on 9523 2699 for a confidential discussion.
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