All Topics / Help Needed! / First Home Concession QLD-Can someone explain?

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  • Profile photo of TiffanyGTiffanyG
    Member
    @tiffanyg
    Join Date: 2010
    Post Count: 34
    October 22, 2010 - 4:50 am

    HI,

    I’m trying to figure out what a First Home Concession is? can anyone explain this to me?

    Thanks,
    Tiffany

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    October 22, 2010 - 12:27 pm

    Will relate to the Stamp Duty concession in Qld.

    Simply if it is your first purchase and an owner occupied property you wont pay stamp duty if the consideration price is less than $500,000.

    Anything over this will be paid at a reduced scale compared to a normal owner occupied purchase or investment acqusition.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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