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FIRST HOME OWNER’S GRANT (FHOG)
$7,000 for established properties priced up to $750,000
$20,000 for newly-built homes in Melbourne area : Building Agreement price cannot exceed $600,000
$26,500 for newly-built homes in Regional areas : Building Agreement price cannot exceed $600,000
First Home Buyers must occupy the home within 12 months and live there for at least 6 months
STAMP DUTY BENEFITS
There are 2 stamp duty concessions currently available in Victoria:
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Principal Place of Residence (PPR) discount : available for ANY owner-occupier who will live in the property for at least 12 months. Maximum price $550,000. Maximum stamp duty discount $3,100
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20% First Home Buyer stamp duty discount : buyers MUST be eligible for the FHOG and be settling the purchase after 01.07.2011. Purchase price must not exceed $600,000
First Home Buyers can receive BOTH of these duty discounts if buying for less than $550,000 in Victoria
| Example: Purchase price $500,000 (owner-occupied residence) |
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Normal stamp duty |
$25,070
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PPR discount |
3,100
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= |
Net duty |
21,970
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- |
20% FHB discount |
4,394
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= |
Balance payable |
$17,576
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STATE REVENUE OFFICE APPLICATION FORM (Form 53B)
Both of the above stamp duty discounts can be applied for by completing the SRO Form 53B. Your solicitor or conveyancer can complete this form for you. If you are applying for the 20% First Home Buyer discount, you MUST be eligible for the FHOG. On Part 7 of the form, you must include the FHOG Unique Identification Number (UIN). Without the UIN, you cannot receive the 20% FHB discount.
FURTHER ENQUIRIES
Contact Victorian State Revenue Office telephone hotline 13 21 61
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