What Stamp Duty or First Home Buyer concessions may be available to me under the Assemble Model?

If successful in the ballot, when signing the lease and paying the 1-month rental bond, you will enter into a contract of sale. The contract of sale gives you the right, but not the obligation, to purchase the apartment at the end of the lease term. By also entering into the contract of sale prior to construction commencing, the contract is able to be treated as an off-the-plan contract of sale and you may be eligible to receive the off-the-plan concession.

To receive the off-the-plan duty concession, you must be eligible for either the first home buyer duty exemption, concession or reduction or the principal place of residence (PPR) concession.

First home buyer duty exemption, concession or reduction
If you are an eligible first home buyer, the purchase price (OTP dutiable value) is less than $600,000, and you live in your apartment as your principal place of residence for a continuous period of 12 months following settlement, you may be eligible for full duty exemption. If the dutiable value falls between $600,001 and $750,000 a concession will apply on a sliding scale.

Principal place of residence concession
If you are not an eligible first home buyer, the purchase price (OTP dutiable value) is less than $550,000, and you live in your apartment as your principal place of residence for a continuous period of 12 months following settlement, you may be eligible for the off-the-plan duty concession.

First home owners grant
If you are an eligible first home buyer, the purchase price is less than $750,000, and you live in your apartment as your principal place of residence for a continuous period of 12 months following settlement, you may be eligible for the first home owners grant of $10,000.

For further information on the various concessions available please see the following links:

+     Off-the-plan duty concession
+     First home buyer duty exemption, concession or reduction
+     Principal place of residence (PPR) concession
+     First home owners grant

Please note, this FAQ provides general guidance as to the various concessions available and eligibility criteria but does not constitute formal advice. It is your responsibility to find out whether or not your particular circumstances make you eligible for the first home buyer duty exemption, concession or reduction, principal place of residence concession or first home owners grant.