FPC News & Updates

$10,000 Pre-Construction Grant – Limited Availability

For Eligible purchasers entering into off plan contracts between 22 June 2017 and 30 September 2017, the South Australian Government is offering a Grant of $10,000 in addition to any off plan stamp duty concessions available (see other post). Payment of the Grant will be made available generally at the time of Stamp duty being paid which is on settlement. Further information is to come to hand on this great incentive.Refer to www.revenuesa.sa.gov.au/grants-and-concessions/pre-construction-grant for more additional information as and when published by Revenue SA.As with the Off plan stamp duty concession this Grant is not available for Foreign Purchasers

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2017/2018 Changes to the Off Plan Stamp Duty Concession

As part of the 2017 State Budget review the South Australian Government has extended the Off Plan Concession on eligible apartment purchases in South Australia until the 30th June 2018. The Concession has been re-targeted so that it no longer applies to foreign Purchasers. However, Australian residents who are qualifying purchasers now have great incentive to purchase off plan. This includes interstate investors – reasonably priced property that still attracts concession where other states in Australia have removed this concession.It is important to remember to ensure that you get appropriate advice with respect to your off plan contract both legally and financially before making any decision to purchase. Contact our office to discuss your proposed purchase.Our service extends to looking through your proposed Off plan contract and discussing the implications of what the conditions of the contract mean to you as the purchaser.Visit Revenue SA www.revenuesa.sa.gov.au/grants-and-concessions/off-the-plan-concession for greater details of this concession 

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