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Principal Place of Residence (PPR) - Concession/reduction of duty
Sections:
s57 H-I, s57J or JA
Circumstances/Transactions:
The PPR concession applies to transfers resulting from contracts of sale entered into on or after 1 October 2008 where the land purchased is intended to be occupied as a principal place of residence by at least one transferee.
- Contract date must be on or after 1 October 2008 for PPR transfers.
- Transfer to an 'eligible first home buyer' where settlement occurs on after 1 July 2011.
Evidence:
For sales involving transfers of land to related or associated persons, fractional interests, or for less than market value, we require additional evidence:
- Evidence of the market value of the property
- Proof of payment of the purchase price (e.g. bank statements, loan agreements and receipts).
Lodge before settlement through Duties Online
Last modified: 19 August 2024
