Victorian stamp duty costs slashed on units, townhouses
The Victorian State Government has announced a controversial tax will no longer apply to properties bought off-the-plan, with no price cap imposed.
The Victorian Government has announced temporary stamp duty reforms it hopes will bolster housing supply and unit completions. (Image source: Shutterstock.com)
The Victorian Government is giving off-the-plan apartment, unit and townhouse buyers in the state a one year reprieve from hefty stamp duty costs.
For a new $620,000 apartment bought off-the-plan, the government estimates stamp duty would be reduced to $4000, representing a saving of $28,000.
The state government is hoping the slashing of stamp duty for these buyers will help residential multi-dwelling building projects get off the ground faste…
