Canberrans looking to downsize will save thousands of dollars thanks to the ACT government's recent decision to abolish the stamp duty on off-plan apartments and townhouses.
The move applies to off-plan purchases up to $ 500,000. With this change, anyone purchasing an off-plan apartment or townhouse worth $ 500,000 will save $ 10,360.
Andrew Barr, Chief Minister of ACT, said this is a further step in the territory's tax reform agenda and one that encourages an increase in tax reform. Housing supply below the threshold of $ 500,000.
"If the government had not initiated this reform in 2012, and the government had continued to increase revenues in the same inefficient manner, buyers would pay $ 20,500 in stamp duty for the same property that will be permanently exempt from stamp duty. in ACT as of this month, "he said.
Barr believes that by removing inefficient taxes such as stamp duties and replacing them with the fairest and most efficient tax base, the Territory will be able to increase the tax base. Economic activity and supporting housing affordability.
"Whether you are looking to buy your first home, downsized or expanded, the reduced stamp duty rates will make buying easier and ensure all Canberrans benefit from taxes and duties. fairer, simpler and more efficient, ”he said. said.
The ACT government will also reduce the stamp duty on a range of real estate purchases in the ACT. For example, the duty on any owner-occupied purchase between $ 200,000 and $ 450,000 will be $ 1,040 lower in 2021-2022 than in 2020-2021.
The changes are shown in the table below:
Top Suburbs:
willoughby is
,
menai
,
laineloongabba
,
south brisbane
,
coorparo
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