Increased concessions for pensioners

From 1 July 2011 pensioners and concession card holders in Victoria will receive stamp duty concessions on properties up to the value of $750,000. Currently, the upper threshold is $440,000, a figure deemed as inadequate given today’s property prices.

Properties under $330,000 will attract no stamp duty whatsoever and those with a value above that figure up to $750,000 will receive concessions on a sliding scale.

The concession has also been extended to include Commonwealth Seniors Health Card holders.

For more details, visit the State Revenue Office.