Stamp Duty Rebate For First Home Buyers
Transfer duties add considerable cost to the purchase of a property, which is why the Queensland Government has provided First Home Buyers a rebate on all or part of the cost of stamp duties. Under this incentive, a First Home Buyer can receive a rebate o up to $8,750 if you are buying an established or new newly built home priced under $500,000.
The Government rebate also applies if you’re buying a block of land valued less than $250,000. Under this circumstance you are entitled to a rebate of $7,175 if you spend $249.999.
The amount you get in rebate differs depending on the price of the property you are buying up to a maximum of $550,000 at which point, the First Home Buyers Rebate cuts out and you will be pay the normal rate of stamp duties.
Properties valued up to $500,000 you qualify for a Rebate of $8,750 which is the maximum rebate available
Properties valued at between $500,000 to $550,000, you’ll pay some stamp duty but the reduction in costs is at a reduced rate. For example, a property valued at $ 505,000: the stamp duty you would normally pay is $8,925. With the rebate you would only pay $1,050 (a saving of $7,875);
Properties valued $550,000 or more do not qualify for a First Home Buyer Rebate.
Concessions exist in certain circumstances which either reduces the rate paid or eliminates it.
Where a property is left to a family member following death or where it changes names to an ex-spouse or partner as a result of a divorce, the transaction is exempt from paying Transfer Duty.
Concessions are also available for pensioners, carers and farmers, but vary between states and territory.
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Our Lending Specialists will present to you a number of options available outlining the differences, benefits and downfalls of each option presented. Our preferred option and reasons why, we consider this the best fit for you will be clearly explained.
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We pride outselves on client service which is why our Lending Specialists establish a reasonable review timeframe where they touch base with our Clients to ensure everything is working as planned. During this review, the client is made aware of any new financing options in the market.
Brisbane Home Loans is not about one off loans. We truly care about our clients, which is why we stand by their side beyond the completion of the loan.
Being Our First Home It Was Great Having The Knowledge of Daniel & The team at Brisbane Home
We have been working with Daniel and the team at Brisbane Home Loans for the purchase of our first home, being first home buyers it has been great having the knowledge of Daniel & the team at Brisbane Home Loans to support us. We can’t thank them enough for their support and making themselves available to answer all of our questions. I’d highly recommend Brisbane Home Loans.
We Saved More Than 1% On Our Existing Home Loans
We didn’t realize how important it was to review our home load until we engaged with Daniel and Jordan at Brisbane Home Loans. They helped in submitting our application which resulted in a saving of over 1% in interest on our loans, plus a reduction in our on going bank fees. I would recommend this business and thank Daniel and Jordan for making the process so easy.
Sam and Nicky
It was Our First Home and We had No Idea. Thanks to The Team From Brisbane Home Loans
Daniel and the team at Brisbane Home Loans were super helpful and friendly to me as it was my first home loan and I had no idea! They answered all my questions and were very hardworking. Would definitely recommend to a friend.
They Made Buying Our First Home Easy and Fun. Thanks
The team at Brisbane Home loans have been super helpful and extremely professional to assist us with all our first home questions.
will be recommending them to everyone I know looking to buy!
Thanks for Helping me Turn my Dream into a Reality
Service was great, very informative and kept me up to date on all progress and all steps. Follow up after it was all done and dusted was also great. Took the stress out of it which was a great help for my busy life. I would totally recommend Dan and Jordan to anyone.
Thanks for helping me get my dream into a reality.
Car Loan Approved In Less Than 3 Hours – So Wrapped
I could not believe how quickly Jordan was able to organise my car loan. He was so helpfull and I am truly greatfull.