Victorian stamp duty cuts cost $76 million since July
Staff reporterDecember 7, 2020
State Government stamp duty cuts have saved first-home buyers in Victoria more than $76 million.
Around 4500 new homeowners have benefited from the concessions between July 1 and October 12, including 3711 who paid no stamp duty at all.
The cuts, announced in March and introduced in July, scrapped the property tax on homes that cost less than $600,000.
First-home buyers purchasing property between $600,000-$750,000 also received reduced discounts.
Premier Daniel Andrews said the average first-home buyer was $8000 better off.