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Victorian budget bails-out apartment developers


Victorian budget bails-out apartment developers
The Victorian Budget has bailed-out apartment developers by:
waving stamp duty on newly completed homes that have been unsold for a year or more;
extending stamp duty concessions to new off-the-plan purchases worth up to $1 million from 1 July; and
extending the 50% stamp duty discount on new homes in the Melbourne local government area that do not qualify for the full waiver.
From
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The changes mean that buyers of high-rise dog boxes will save up to $55,000 via stamp duty exceptions.
Curiously, at the same time as it has forgone tax revenue on high-rise dog boxes, the Victorian Government has taxed job creation via a new $3 billion payroll tax levy to fund mental health: ....

Victorian Government , Central Melbourne , விக்டோரியன் அரசு , மைய மெல்போர்ன் ,