When I started this business back in 2015, never in a million-day dreams could I have envisaged employing someone from Nepal via zoom who during a pandemic has had to work from home!! We have had some wonderful sharing of cultural differences and learning with all our team from Australia, the Philippines, and Nepal and it has been fantastic. Can’t believe how lucky I have been to attract such great support and I know you will love working with Sanju and all the team as we sort your new home loans.
Click here to meet Sanju.
I am also briefly updating you on the Land Transfer duty waiver for residential property in Victoria.
NB This advice is general in nature and please read our full disclaimer on the link below
Land transfer duty waiver in Victoria for residential property transactions of up to $1 million
Did you know there is a land transfer (stamp) duty waiver for purchases of Victorian residential property with a dutiable value of up to $1 million? It can apply to:
- New residential properties, a 50% land transfer duty waiver of the duty otherwise payable applies.
- Existing residential properties, a 25% land transfer duty waiver of the duty otherwise payable applies.
- Vacant residential land, a 25% land transfer duty waiver of the duty otherwise payable applies; but
- The contract must be signed on or after 25 November 2020 and before 1 July 2021.
The waiver applies after all other eligible benefits, such as the first home buyer duty concession, the principal place of residence concession, and the pensioner concession, have been taken into account. However, the waiver does not apply to foreign purchaser additional duty.
To find out more and to see if your transaction is eligible for the waiver click here
Source: State Revenue Office Victoria
If we can be of any assistance and you would like a one-on-one consultation for any loan type, please reach out and book a time here.
With thanks,
