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. Please note that this initiative has been extended again, and now has an expiry date of 30 June 2020.
To qualify for this initiative:
The purchaser of the property must:
This incentive is available from 10 February 2018 to 30 June 2020. This is an extension from the original expiry date of 30 June 2019.
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).