The smart way to pay stamp duty on a house – part 2

by Chris Lang on August 28, 2008

How to use PPR concession to reduce stamp duty

Another “discount” you can get for the stamp duty is your PPR (Principal Place of Residence) concession – if the house you are buying will be you Principal Place of Residence, you’re entitled to another discount.

Principal Place of Residence means that

1) You’ve moved in into the house during the first 12 months after you’ve bought it

and

2) You’ll live there for at least 12 months.

If the house was bought by a couple or a family, at least one member of that family has to move in and live there for a year.

Again, I don’t want to give you the exact numbers of how much that concession saves you because they constantly change. Roughly, it should get you rate reduction of 1% – and the latest information for Victoria is here.

Naturally, to get the PPR concession there is a 4-page form you need to feel (download here). Your signature needs to be witnessed by someone – if you can’t think of anyone who’d do that for you, just asks your local chemist to witness the form. Give it to your conveyancer together with the FHOG application (you can read about using FHOG to reduce stamp duty here) and enjoy saving another two thousands or so.

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