Queensland Stamp Duty Concessions Explained

Queensland Stamp duty (also known as Transfer Duty) is essentially a tax on the transfer of property, payable to the Qld Government by the buyer of the property. The following is a guide for the different stamp duty concessions that may be available to you.

Stamp Duty Queensland – Concession Requirements

FIRST HOME CONCESSION

  • you have never owned property anywhere in the world before; and
  • you intend to move into the property within 12 months of settlement; and
  • the property will be your principal place of residence for a minimum of 12 consecutive months after you move in; and
  • you will not enter into a new lease of the property prior to moving into it.

HOME CONCESSION

  • you have owned property before; and
  • you intend to move into the property within 12 months of settlement; and
  • the property will be your principal place of residence for a minimum of 12 consecutive months after you move in; and
  • you will not enter into a new lease of the property prior to moving into it.

FIRST HOME – VACANT LAND CONCESSION

  • you have not previously held an interest in residential land (whether in Queensland or elsewhere); and
  • you have not previously claimed this concession for other vacant land; and
  • you will build and occupy the home constructed on the land as your first principal place of residence within 2 years after the land is transferred to you; and
  • you will not dispose of the land before, or within 1 year after you start to occupy the residence constructed on the land as your home.

VACANT LAND – NO CONCESSION

  • you do not meet the requirements for the First Home Vacant Land Concession; or
  • property purchased in the name of a company or trust is deemed by the government to be investment property;

INVESTMENT PROPERTY – NO CONCESSION

  • you do not meet the requirements for either the First Home or Home concessions outlined above; or
  • property purchased in the name of a company or trust is deemed by the government to be investment property; or
  • the property you are purchasing is commercial property

Stamp Duty Changes Qld, Stamp Duty July 2012 Queensland, Stamp Duty Rates August 2011

 

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