Last month the Queensland government announced that from 1 July 2012 the principal place of residence concession on stamp duty will be re-instated after it was scrapped as part of the 2011 state budget cuts. Buyers signing contracts on or after 1 July 2012 will be eligible for the concession. The important thing to remember is that the settlement date is irrelevant, it is the contract date that determines whether or not you will be eligible. So if you’re looking at buying a home in the next month consider holding off on signing the contract until 1 July 2012 to possibly save thousands.
Miller Sockhill Lawyers are a firm of Solicitors with offices is in Buderim on the Sunshine Coast. For any property law or development related enquiries please contact our property law solicitor, Anthony Miller.