![]() ![]() ![]() However, families with dependent children are can still eligible if their income exceeds $160,000. If you’re a first home buyer you are entitled a full exemption to stamp duty, as long as the total gross income of your household is less than $160,000. Now for some good news! Before you have to hand over potentially tens of thousands of dollars in tax, you might qualify for a stamp duty exemption. Are you entitled to any stamp duty concessions? Unfortunately, stamp duty needs to be paid up front and can’t be paid periodically as a part of your mortgage. This means that you need to make sure you budget for stamp duty on top of your deposit, mortgage, building inspection, moving costs and other expenses. In the ACT, you have to pay stamp duty after settlement and within 14 days after receiving a Notice of Assessment.
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