Half stamps on new property

Discussion in 'Accounting & Tax' started by Jacque, 17th Jun, 2009.

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  1. Jacque

    Jacque Jacque Parker Premium Member

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    Just in from the budget news...

    The Rees government will provide a $64 million boost to people buying new homes, cutting their stamp duty by half - as the only surprise giveaway in a budget with a 2009-10 deficit of $990 million.

    Read more here

    This certainly looks interesting, as it's including other buyers besides the FHB's in this scheme. Obviously designed to continue to breathe life in the new build section of the market, paying half the normal SD will be a bonus for investors who are looking to purchase before the end of this year.
     
    Jacque, 17th Jun, 2009
    #1
  2. Chris C

    Chris C Well-Known Member

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    It's always good news when government is willing to take a pay cut.
     
    Chris C, 18th Jun, 2009
    #2
  3. FinSpec

    FinSpec Member

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    Nothing like adding more buyers to the market!

    Housing affordability - out the window you go :cool:
     
    FinSpec, 18th Jun, 2009
    #3