CHANGES TO STAMP DUTY THRESHOLDS

Changes to stamp duty thresholds

Insight
Australia has made changes to stamp duty thresholds, which will eliminate stamp duty on newly-built homes below $800,000 as part of the government’s COVID-19 Recovery Plan, will take effect from Saturday 1 August 2020. Under the changes, the threshold above which stamp duty will be charged on new homes for first home buyers will increase from the current $650,000 to $800,000, with the concession reducing on higher values before phasing out at $1 million.

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