Changes to Boost & Stamp Duty take effect today, 1 August 2011

As of today, there are a few adjustments to how stamp duty is calculated for home owners.

Important points:

• $10,000 boost when building a new home (PPoR or IP) for anything less than $600k
• Removal of 'Home Concession' stamp duty concession (now investors pay the same as home owners)
• Changes to First Home Concession and Vacant Land Concession (some compensation for the removal of 'Home Concession')
• Changes to Stamp Duty rates

So what is the impact pre & post 1st August 2011 in Queensland? Below are a few examples describing the four main components: stamp duty, concession, first home owner's grant & the building boost grant.

First home owner - Building New @ $450k

First home owner - Buying Established @ $450k

Investment Property - Building New @ $450k

Investment Property - Buying Established @ $450k