South Australia moves to scrap stamp duty for downsizers
South Australian Premier Peter Malinauskas has unveiled a plan to abolish stamp duty for South Australians aged 60 and above, to help them downsize to a newly built home in a move that could save eligible buyers more than $100,000.
Apartment life in Glenelg might have just become a more alluring prospect for older South Australian downsizers. (Image source: GagliardiPhotography/Sutterstock.com)
South Australia is poised to become the first state in the nation to completely abolish stamp duty for eligible downsizers under a major election pledge unveiled by the state government.
Premier Peter Malinauskas has announced that, if re-elected, a Labor government would scrap stamp duty for South Australians aged 60 and over who sell their existing family home and purchase a newly built or off-the-plan property valued at up to $2 million.
The…
