3rd December 2020 | Business
The government has announced an investment of over $293 million to fund a stamp duty concession of up to 50 per cent for homes valued at up to $1 million for contracts entered into from 25 November 2020 to 30 June 2021.
Relief will be targeted at newly built or “off-the-plan” homes, which will receive a 50 per cent waiver. Existing homes will be eligible for a 25 per cent waiver.
In a bid to lure businesses to regional Victoria, a 50 per cent stamp duty concession on the purchase of commercial and industrial properties will be brought forward to January 2021 – encouraging more businesses to open, relocate or expand, and helping our hard-hit regional economies bounce back.
This investment is tipped to save businesses a further $39.6 million.
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