I am trying to chase up where I stand with stamp duty. I purchased my home this year. It is my first home. Principle place of residence. I signed the contract for purchase 15/12/08, settled 15/1/09 and moved in straight away. I now have to move away from home for work, about 1300km away. I did not have to pay any stamp duty as i was a first home buyer. My understanding of concession is that it comes with the condition that i live in the property for 12 months, i think this is the same for any ppr concession. I will now turn it into an investment earlier than i had planned.
I can't find anything much on the OSR website, but i think i will be up for some sort of partial transfer duty. Has anybody had this experience themselves? or can anyone shed some insight? Is there a chance this rule will not apply to me as i am being transfered within the same company? any help is much appreciated.
Hi MM,
My understanding is that all you have to do is pay back the PPOR Concession back to the State revenue office (for Victoria). You still get to keep the FHOG (assuming you have lived in the property for 6 months or more which by the information you have provided above sounds like you have).
Not sure if they will consider your circumstances, however worst case scenario will be that you will have to pay back the PPOR concession,
Best to call the state revenue office and ask them directly,
Shivasko
Hi MM,
I was in a similar position a few years ago. I had received the FHOG, then found out shortly after moving that I was being transferred overseas. I wrote a letter to the relevant government department (cant remember who) explaining my situation – they asked for proof that my circumstances had changed beyond my control. I was able to provide a letter from my employer stating the situation, also the contract from my wife's work to show she intended to continue working, also some bills in our name from the property. The government then replied to say I was able to keep the FHOG in full.
Hope that helps
BenI have found out now that i have to pay the portion of transfer duty at the full rate for the days i rent the property. – QLD stamp duty
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