News
Land transfer duty waiver for residential property transactions of up to $1 million
The Victorian Government has announced a land transfer (stamp) duty waiver for purchases of Victorian residential property with a dutiable value of up to $1 million. For new residential properties, a 50% land transfer duty waiver of the duty otherwise payable applies. For existing residential properties, a 25% land transfer duty waiver of the duty otherwise payable applies. For vacant resi...
Home Builder Grant
HomeBuilder Grant provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially renovate an existing home. Who qualifies? Be a current or prospective owner-occupier, not an investor Be a natural person, not a company or trust Be an Australian citizen Earn $125,000 or less a year for singles or less than $200,000 a y...
DHHS COVID-19 Rent Relief Grant
The Victorian Government has established an $80 million rental assistance fund to provide rent relief payments of up to $2000 to Victorians experiencing rental hardship due to the coronavirus (COVID-19) pandemic. The grant is specifically for tenants and is paid directly to the tenant’s agent, lessor or landlord to contribute to the tenant’s rental payments, under their new rental ...
Tax relief for eligible businesses
The Victorian Government has launched the $500 million Business Support Fund to help small businesses survive the impacts of coronavirus (COVID-19) and keep people in work. The Fund is part of the Victorian Government’s $1.7 billion Economic Survival Package. Applications opened on Monday 30 March 2020 and will close on Monday 1 June 2020. Small businesses are eligible if they: Emplo...
Land tax reduction for eligible landlords
Landlords who provide tenants impacted by COVID-19 with rent relief may be eligible for a 25% reduction on the property’s 2020 land tax. This relief is also available to land owners who are unable to secure a tenant because of COVID-19. These landlords can also defer the remainder of their 2020 land tax to up to 31 March 2021. This relief is available for residential and...
RBA cuts rates to new record low to kickstart economy
The Reserve Bank of Australia has cut official interest rates to a new record low of 1.25 per cent, injecting stimulus into a slowing economy as it looks to turn around sluggish employment, wages and inflation. The rate cut, just weeks after the May 18 federal election, marks the first time the RBA has used its central monetary policy lever in almost three years - the longest period ...
The Melbourne suburbs where properties are renting quickest
Renters in Balaclava and Elwood face the tightest competition to find a home, with properties sitting on the market for the fewest days in the city on average, new data shows. Both suburbs had an average of about 19.6 days on the market, closely followed by Preston, Craigieburn, Collingwood and Ringwood with averages between 20 and 20.2 days on the market, from the start of the year to the end...
