This may have already been a topic – but I couldn't locate it.
Could someone please tell me how long I would need to stay in a property purchased in QLD before renting it out to attain the cheaper stamp duty awarded to owner occupiers?
I have capacity to move into a property prior to renting it out if required but wonder if this is a pointless process, and I should just cop the higher stamp duty for a property in QLD.Any information on this subject would be appreciated.
I do not live in QLD or have land in QLD but the state revenue office is where to source the answer to your question which I have done below for you to help you out !
It looks like from their web site that you have to apply for the concession when you buy the property see application form link at bottom of these comments.
and then it is a matter of being there long enough for SRO not to take back the concession .There seems to be a one year reassessment provision (s.153)
http://www.osr.qld.gov.au/legislation-rulings/public-rulings/duties/duties-pdfs/da085-1.pdf
Do a find on document for reassessment provision and you will find it on page 4 of 8
or
http://www.osr.qld.gov.au/legislation-rulings/public-rulings/duties/da085-1.shtml
second page of this web page point 20 examples .Have a hunt around the http://www.osr.qld.gov.au web site for any additional information you may need.
http://www.osr.qld.gov.au/forms/land-tax-forms/exemp-deduction-forms/form-lt20.pdf
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