How To: Pay Less Stamp Duty

One of the many benefits of purchasing an off-the-plan property is the stamp duty benefits. There are many government grants, exemptions and discounts available to all types of purchasers, from owner occupiers, to first home buyers and even investors. To receive the maximum of these benefits it's best to purchase as early on in the project as possible. This is because as construction continues, the benefits decrease. Learn how to can save at our Cornus Glen Iris project, if you purchase now!

With construction underway at our Cornus Glen Iris project, now is the perfect time to invest in this exceptional development. By purchasing now, you can unlock significant savings on stamp duty costs, enjoy government grants and exemptions, benefit from depreciation claims (for investors), experience lower maintenance costs and explore the potential for capital growth. Don't miss out on this opportunity to secure your future and make a wise investment decision.

Stamp Duty Savings

Right now, there's never been a better time to purchase at CORNUS Glen Iris, as construction has just begun, you can enjoy many significant savings. By purchasing at Glen Iris, you can reap the rewards of one of the most prominent and well-known advantages of buying off the plan – big stamp duty savings. In Victoria, for instance, you could save over $18,700 on a $500,000 purchase if you opt for a new off-the-plan property instead of an established one. As a first home buyer, this can be a substantial relief, making the entire process smoother and more affordable.

First Home Owners Grant

First-time homebuyers in Victoria may be eligible to receive a $10,000 grant through the First Home Owner Grant when purchasing a property that has a dutiable value of  $750,000 or under. Additionally, purchasing a brand new property may entitle you to a stamp duty exemption for a property with a dutiable value of up to $600,000. The dutiable value includes the price paid or market value (whichever is greater) and any applicable GST. As a first homebuyer, you may also qualify for the Principal Place of Residence concession (PPR) if you plan to live in the home for at least one year within 12 months of settlement. These potential savings make investing in Cornus Glen Iris an ideal choice for first-time homebuyers seeking to make a sound financial decision and secure their future.

Learn more about the government grants here 

Depreciation Benefits

Another great benefit of purchasing an off-the-plan property like Cornus Glen Iris is the depreciation benefits. As an investor, you can claim tax deductions for the depreciation of up to 6,000 items within your new home, including many fittings and fixtures. This could potentially save you thousands of dollars in tax each year. However, it's important to get a full depreciation schedule from your accountant once your property has settled.

Lower Maintenance Costs

New homes come with brand new fixtures and fittings, which means you're less likely to encounter maintenance issues in the short term. Plus, if any issues do arise, they will be covered by your builder's warranty.

Potential for Capital Growth

Buying off-the-plan can also offer significant potential for capital growth. As the property is brand new, it will likely appreciate in value over time, especially if it's in a desirable location like Glen Iris. This means that you could potentially make a profit when it comes time to sell your property.

Buying off-the-plan at Cornus Glen Iris offers a range of benefits, including significant stamp duty savings, depreciation benefits, lower maintenance costs, and potential for capital growth. If you're in the market for a new property, now is a great time to consider purchasing at Cornus Glen Iris.  

Cornus Glen Iris allows you to benefit from massive stamp duty savings, making this a wise financial decision that you won't regret. With construction underway, there's no better time than now to take advantage of this opportunity. Don't hesitate - contact us today to learn how you can save money and invest in your future with Cornus Glen Iris.

*Before making any decisions about buying off the plan, it's always a good idea to consult with a financial advisor to help you evaluate the potential risks and benefits of buying property. *PLEASE REFER TO THE FEDERAL AND STATE GOVERNMENT WEBSITES FOR FURTHER INFORMATION. TERMS AND CONDITIONS APPLY TO ANY OTHER PROMOTIONS THAT MAY BE CONTAINED WITHIN THIS COMMUNICATION. PLEASE ENQUIRE WITHIN AND CHECK WITH THE VENDOR AND AGENT FOR FURTHER TERMS AND CONDITIONS. ONLY ONE PROMOTION CAN BE USED PER PURCHASE AND CAN NOT BE USED IN CONJUNCTION WITH ANY OTHER PROMOTIONS. THE INFORMATION CONTAINED HEREIN IS GIVEN FOR GENERAL INFORMATION PURPOSES ONLY AND IT IS SUBJECT TO CHANGE. READERS, VIEWERS AND CONSUMERS ARE ADVISED TO PERFORM THEIR OWN RESEARCH AND INVESTIGATIONS AND OBTAIN THEIR OWN FINANCIAL, LEGAL AND OTHER ADVICE. THE INFORMATION AND MATERIALS DO NOT FORM ANY REPRESENTATION BY ANY VENDORS OR AGENTS OF ANY VENDORS AND MAY INCLUDE THIRD-PARTY OPINIONS THAT DO NOT REPRESENT THE OPINION OF ANY VENDOR OR AGENT. THEY DO NOT FORM PART OF ANY CONTRACT OF SALE AND THEY DO NOT CONSTITUTE LEGAL, FINANCIAL, REAL ESTATE OR OTHER ADVICE AND MUST NOT BE REGARDED OR RELIED UPON AS SUCH. NO WARRANTY IS GIVEN EITHER EXPRESSLY OR IMPLIED AND THE VENDORS OR AGENTS DO NOT ASSUME LIABILITY FOR NEGLIGENCE OR OTHERWISE WITH RESPECT TO THE CONTENTS HEREIN. ANY PLANS ARE YET TO HAVE HAD THEIR STRUCTURAL AND SERVICES REVIEW SO ARE SUBJECT TO CHANGE PRIOR TO COMPLETION OF CONSTRUCTION. ALL PLANS, DIMENSIONS, AREAS AND PARTICULARS HEREIN WHETHER BY MEASUREMENTS OR VISUAL REPRESENTATION ARE APPROXIMATE ONLY, FOR GENERAL INFORMATION ONLY, AND DO NOT CONSTITUTE ANY REPRESENTATION BY THE VENDOR OR ITS AGENTS OR REPRESENTATIVES. THEY DO NOT FORM PART OF ANY CONTRACT OF SALE. CHANGES WILL UNDOUBTEDLY BE MADE DURING DEVELOPMENT AND DIMENSIONS, FITTINGS, FINISHES AND SPECIFICATIONS ARE THEREFORE SUBJECT TO CHANGE. ANY FURNITURE, GOODS AND CHATTELS DEPICTED IN THIS DOCUMENT ARE NOT INCLUDED WITH ANY SALE. PROSPECTIVE PURCHASERS OR LESSEES ARE ADVISED TO NOT TO RELY ON THE INFORMATION CONTAINED HEREIN AND TO SATISFY THEMSELVES AS TO THE ACCURACY OF ALL INFORMATION GIVEN BY MAKING THEIR OWN INSPECTIONS, SEARCHES, INQUIRIES AND ADVISES OR AS IS OTHERWISE NECESSARY. THE VENDOR OR ITS AGENTS OR REPRESENTATIVES WILL NOT BE RESPONSIBLE FOR ANY ERROR OR MISDESCRIPTION WHICH MAY APPEAR. FURTHER, THE VENDOR OR THE DEVELOPER OR THEIR AGENTS OR REPRESENTATIVES DO NOT REPRESENT, WARRANT AND/OR GUARANTEE THAT THE INTEGRITY OF THIS COMMUNICATION HAS BEEN MAINTAINED OR THAT THE COMMUNICATION IS FREE OF ERRORS, VIRUS, INTERCEPTION OR INTERFERENCE. USAGE OF THIS OR ANY OTHER WEBSITES AND MATERIALS AND ANY ASSOCIATED WEBSITE OR MATERIAL IS SUBJECT TO FURTHER TERMS AND CONDITIONS.