Your Investment Property forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Stamp duty concessions for downsizers get lobby group backing

Notify me of new replies via email
Your Investment Property | 25 Nov 2015, 03:43 AM Agree 0
Speculation the Federal Government is considering tax breaks designed to make downsizing more attractive to older homeowners has been welcomed by property lobby groups
  • Alan | 25 Nov 2015, 10:17 PM Agree 0
    I am 58 years old and am in a 4 bedroom house with my partner in Victoria. The thought of downsizing had crossed my mind several times, but considering the loss, I have remained in the same property.
    Concession should kick in at age 55, and there should really be no means testing. Afterall, we have worked very hard and paid more than our fair share of taxes!
    To delay this further would mean property prices remaining inflated because we are forced to remain where we are.
    I hope some quick and sensible decisions regarding stamp duty concessions will be made very soon. I am sure many would agree that no stamp duty should be paid if downsizing keeping in mind that to get where we are, we have paid stamp duty more than once.
    Let us see if it is just a lot of politicking or if the Liberals are serious about this.
  • David | 30 Nov 2015, 01:19 PM Agree 0
    I agree too, I am 53 yrs old & live in a 5 bedroom house, not having to pay a tax to downsize adds to the attractiveness of the idea when the time comes.
  • Margaret | 07 Apr 2016, 08:19 PM Agree 0
    Yes, we are looking at downsizing, but the cost of a villa in nearby areas has risen by $120,000 in less than 12 months, which has taken the villa we are interested in over the stamp duty threshold by $70,000.

    We will need to spend money to add invalid/mobilility accesories to make it usable friendly now and more so into the future.
    Ok the powers that be, suggest we downsize.
    My question is? with no stamp duty, yes, as it will cost that to make us safe and secure in our move.
    HELP us out please.
    My husband has a mild cognitive impairmaent which will eventully lead to demensia.We keep it at bay with lots of organic food,no dairy,no wheat products etc. which costs more for our living costs, but helping so far.
Post a reply