Stamp Duty Concession rules - Victoria

Viewing 4 posts - 1 through 4 (of 4 total)

julieanne_w
Participant
@julieanne_w
Join Date: 2010
Post Count: 15
February 23, 2011 - 9:50 pm
Hi Guys,
I've just brought a property in Victoria and claimed the first home owners grant.
It's my understanding that as long as i live live there it's ok to also rent out my other rooms to people to help pay the mortgage.
However i've also claimed the first home owners stamp duty concession and i'm unsure what the rules are when it comes to this concession and renting rooms out. An online search has provided some conflicting information.
Can i or can i not rent out rooms to other people (whilst living there myself) and still claim the stamp duty concession?
Thanks
julieanne_w
Participant
@julieanne_w
Join Date: 2010
Post Count: 15
February 25, 2011 - 3:40 am
Sorry, i got a little confused by some of the articles i read online.
The stamp duty discount i'm referring to is a principle place of residence stamp duty concession, not a first home owners stamp duty concession.
Mick C
Participant
@shape
Join Date: 2010
Post Count: 1,099
February 27, 2011 - 3:10 am
ahha ok, make sense now
Answer is yes, as long as this is your declared PPOR, and also the main “purpose” is not for rental ( meaning you can rent out to 1-2 ppl..but dont go over board and rent out 3 of the 4 rooms…)
Regards
Michael
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julieanne_w
Participant
@julieanne_w
Join Date: 2010
Post Count: 15
February 28, 2011 - 3:28 am
ok thanks very much