First home buyer savings

15 Mar 2017 Seymour Telegraph, Seymour VIC (General News) In more good news for first home buyers, stamp duty will be abolished. Under changes announced by the Victorian Government, first home buyers will have stamp duty waived on homes valued up to $600 000, a saving of up to $15 535. Member for Northern Victoria Jaclyn Symes said the government was determined to tackle housing affordability head on. These changes will enormously assist first home buyers in Northern Victoria and make the great Australian dream a reality, Ms Symes said. Those buying a home valued between $600 000 and $750 000 will also be eligible for a concession, applied on a sliding scale. The exemption and concession will apply to both new and established homes which could potentially help thousands of country Victorians get their foot in the door. Ms Symes said in a further move to help first home buyers, the Government will also remove off-the-plan stamp duty concessions on investment properties. Opponents of the initiative claim the savings will mean more money in vendors pockets and have called for a better form of taxation to drive down house prices. Licensed by Copyright Agency. You may only copy or communicate this work with a licence.