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ARTICLE · 17 MAY 2017

A changing landscape: how the proposed new stamp duty regime could affect Victorian property developers

Madgwicks
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Property developers should reconsider business strategies with changes to affect off-the-plan investment properties.

AustraliaReal Estate and Construction
Cynthia Mechaalani
Cynthia Mechaalani

Subject to the passing of the State Taxation Acts Amendment Bill 2017, it is expected that there will be a significant shift in the Victorian property market.

In brief: Change is coming! Property developers may need to reconsider their business strategies with proposed changes that will affect off-the-plan investment properties.

Subject to the passing of the State Taxation Acts Amendment Bill 2017 (the Act) on 1 July 2017, it is expected that there will be a significant shift in the Victorian property market. It is proposed that off-the-plan contracts entered into on or after 1 July 2017 will have limited stamp duty concessions, with benefits allocated to first home buyers and those purchasers who intend to use the property as their principal place of residence.

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