Pensioner Downsizing Discount
About this initiative
Are you a pensioner considering downsizing your home? If so, you could be eligible for a duty discount. The Government is offering a 50% duty discount to eligible pensioners that sell their existing home and downsize to a home or unit at a lower cost of up to $400,000.
To qualify for this initiative:
- the cost of your new home must be less than $400,000
The purchaser of the property must:
- be aged 60 or over
- hold a Commonwealth Pensioner Concession Card, a DVA Pensioner Concession Card or a Commonwealth Seniors Health Card
- own an existing home but not any other land or property at the transaction date
- sell their existing home between 10 February 2018 and 9 February 2019
- purchase a new home either six months before/after selling their existing home
- sell the existing home for a higher price than the new home they purchase
- live in the new home for a continuous period of six months, commencing within the 12-month period immediately after transfer of the new home.
This incentive is available for one year, commencing from 10 February 2018.
More information is available on the State Revenue Office website.
For general enquiries, email firstname.lastname@example.org, call (03) 6166 4400 or 1800 001 388 (weekdays, 9:00am – 5:00pm).