25% Stamp Duty is Going to Go by The End of This Month
Stamp discount was introduced by Victoria Government end of Nov 2020 to keep the property market with a stable range of movement. With a 25% discount on Stamp Duty for purchasing existing property under $1 million and 50% discount for home home builds. However, from 1st of July 2021, the duty charge will be rolled back to where it was before, which means the buyers will need to be prepared with more deposit while signing a purchase contact from 1st of July 2021.