New Pensioner Stamp Duty Concessions 2023-24
The Victorian State budget 2023-24 announced a number of changes to stamp duty and land tax that effect Pensioner Card Holders.
So, the new Pensioner Stamp Duty Concessions are as follows:
- If you signed a contract to buy your home before 1 July 2023, these rules apply
- If you signed a contract to buy your home on or after 1 July 2023, these rules apply
Now (for contracts signed on or after 1 July 2023) you may receive:
- An exemption from duty — when you buy a home valued at $600,000 or less, or
- A concession from duty — when you buy a home valued from $600,001 to $750,000.
The main change of the new rules is that the stamp duty exemption cut off has been increased from $330,000 to $600,000, but the thresholds for the pensioner and concession card duty reduction apply to the total value of the home. This means that if you buy a share in the home the thresholds are assessed against the total value of the home, not the value of any share you buy.
Am I eligible for the duty reduction?
You could be eligible if you:
- Hold one of the approved concession cards
- Bought an established home, home off the plan home, or house and land package
- The property will be your principal place of residence
- You have not previously claimed the pensioner duty exemption or concession before 1 July 2023
Approved Commonwealth concession cards
The eligible concession cards are:
- Services Australia Health Care Card, except the Foster Child Health Care Card (FO or FST) and Carer Allowance Health Care Card (CD)
- Department of Veterans Affairs (DVA) Health Care Card – Gold Card
- Services Australia Pensioner Concession Card
- DVA Pensioner Concession Card
- Services Australia Commonwealth Seniors Health Card
- DVA Commonwealth Seniors Health Card
Pensioner Stamp Duty Calculator
To calculate your own stamp duty see the Pensioner Duty Exemption or Concession Calculator