The first of the five Comma Corner apartments is now completed and ready for occupancy! Take a look inside. It’s not too late to own your own strata title studio apartment in the centre of Castlemaine, a historic Victorian town alive with arts, culture and down-to-earth country living. Contact us now to find about this exciting opportunity before it’s too late! The second of the five Comma Corner apartments has now been sold, with only three remaining. It’s not too late to own your own strata title studio apartment in the centre of Castlemaine, a historic Victorian town alive with arts, culture and down-to-earth country living. Contact us now to find about this exciting opportunity before it’s too late! We anticipate completing the first of the five Comma Corner apartments by the end of April 2019 and the second by end of June 2019, with the remaining three to be completed about August/September of the same year. Stay tuned to this website for further updates, including more rendered drawings of the three as-yet-unsold apartments, or feel free to contact us for more updates and details. Check these artist’s renditions of the new apartments’ study, lounge and bedroom areas. The government is changing the rules regarding stamp duty from July 1st 2017. After that date an exemption from paying stamp duty on the purchase price will be available to first home buyers only. Current Stamp Duty status Example: Total Purchase Contract price $475,000 minus 60% ($285,000) leaves a residue of $190,000 representing the land value which is dutiable. Reference:
At present the law allows an exemption of stamp duty payment on the costs of building and its associated charges where a contract is entered into before construction commences. If a contract is signed after commencement of construction only the amount of costs to complete construction at the date of signing will qualify for exemption.
Under the Victorian States Taxation Acts Amendment Act 2008 a ‘deemed’ allowance of 60% is set off against the total purchase contract consideration; this represents the building cost quota and is applicable to ‘multi-lot low rise buildings up to 3 storeys’.
http://www.sro.vic.gov.au/sites/default/files/DA-048.pdf