Forum Replies Created
To derive positives you have to put on your socialist cap and see the equality it brings in allowing low income earners access to the residential property market.
However the flaw here is that we are only talking about lowish income earners on the borderline of buying residential property, NOT seriously underprivileged people.
They are in no more need of a tax break than you or me who has probably just saved harder and worked harder to get to where we are. It won’t kill first home buyers to save for another 6 months to cover the stamp duty, especially in a fairly stagnant market. In fact that is basically what I have just done.
Also because I want what I consider an average house in an average suburb in sydney I am spending more than 600,000. What a ridiculous cap $500,000 is.
Or maybe I’m just being selfish…..
final clarification before i get back to work – exemption only applies to first home buyers.
have fun working out how it will effect you all!!
And if anyone has a crystal ball please let me know!
BTW, I much prefer Brogden’s 10% across the board alternative. How do we let labour governments ever be in power??
date – to be finalised in may and effective no later than 1 july
Slightly deeper though still v superficial reading of parliamentary speech seems as though 2.25% is payable only where CG greater than 12%.
that’s my read of it too se7en.
the 2.25 is in addition to the existing ad valorem rates to be paid up front.
I understand the motivation – it is moving the duty burden from ‘battlers’ purchasing low value houses to live in, and putting it on the investors.
That move is bad for me so being a typically selfish human I am disapointed in the decision.
I get the impression it is signed sealed delivered too…[glum]
Yep its true – 2.25%
But no stamp duty on PPOR up to $500,000.
Personally I hate the concept but basically because I am selfish. I would prefer to see a reduction in stamp duty across the board rather than an exemption only for low property prices, and lets face it, within sydney you can’t find a place for less than 500,000 that you would be happy to bring up a family in. I certainly can’t find it anyway.
Not sure about timing but assume very soon…
Thanks Simon.
I guess I just have to work up the courage to make the call and take the plunge then….[worried]
