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Hi,
Not sure about other states, but in NSW, the OSR states this (regarding Stamp Duty Concessions):
Point 4 is the relevant point.
First Home Plus transfer and mortgage duty exemptions or concessions are available if you are buying or building your first home (valued up to $600,000) or buying vacant land on which you intend to build your home (valued up to $450,000), and who meet the following eligibility criteria:
* Each applicant is a natural person and not a company or trust.
* At least one applicant is a permanent resident or Australian citizen.
* Each applicant must be at least 18 years of age.
* None of the applicants or their spouse/de facto have ever owned a residential property in any State or Territory within Australia (either solely or with someone else). Residential property also includes investment properties.
* None of the applicants or their spouse/de facto have previously been party to an approved First Home Plus application.
* All applicants buying the property must occupy the home as their principal place of residence for a continuous period of six months, commencing within 12 months of completion of the agreement.Does anyone know about the situation with transfer of title after purchase?
Hi,
So I have worked out two names on the loan and one name on title is OK.
I have bought a property already (investment) so am not eligble for the first home owner’s stamp duty concession though my partner (un-married) is.
If we are both on loan but only she on title can someone tell me:
1) If I transfer onto the title later on, does it create the same stamp duty effect as if I had been on title from the start
2) I read somewhere about a concession on transfer of title on a principal place of residence, can anyone shed more light on this?
Thanks in advance
