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Legislative Council - Fifty-First Parliament, Third Session (51-3)
2008-09-11 Daily Xml
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STAMP DUTY

In reply to the Hon. D.G.E. HOOD (3 June 2008).

The Hon. P. HOLLOWAY (Minister for Mineral Resources Development, Minister for Urban Development and Planning, Minister for Small Business): The Treasurer has provided the following information:

As announced in the 2008-09 Budget, the first homebuyer stamp duty concession scheme has been replaced with a first home bonus grant of up to $4,000.

The first home bonus grant is available to first homebuyers who have entered into a first home contract on or after 5 June 2008, subject to applicants meeting the eligibility criteria for the First Home Owner’s Grant.

A $4,000 first home bonus grant is provided for first homes with a market value up to $400,000.  The $4,000 bonus will phase out for first homes with a market value between $400,000 and $450,000 at a rate of $8 for every $100 in excess of $400,000.

The additional assistance provided to first homebuyers is in recognition of recent increases in housing prices in South Australia.

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