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Pay No Stamp Duty on Land Terms & Conditions

Urban Renewal Authority ABN 86 832 349 553 trading as Renewal SA (“Renewal SA”) is offering a special promotion for a limited period between 28 April, 2017 and 30 June, 2017.

The value of this promotion has the potential to deliver savings up to a value of $16,830 to eligible purchasers.

The following sets out the full terms and conditions of the offer and qualifications.

  1. This offer is available to purchasers of eligible vacant allotments in The Square at Woodville West. Those who purchase an eligible vacant allotment will receive a discount off the list price equivalent to the Stamp Duty amount which would be applicable to the allotment purchased.
  2. The amount of any discount to be applied will depend on the type of allotment and the list price of the vacant allotment. The maximum amount of $16,830 is based on Lot 96 Elizabeth Street, Woodville West.
  3. The discount amount will be deducted from the list price and the net amount will be identified as the purchase price in the sale of land contract. Given an equivalent discount has been applied to the purchase price, Stamp Duty will still be payable by the purchaser at settlement.
  4. To be eligible for this offer, a sale of land contract for the purchase of an eligible vacant allotment must be signed by the purchaser on or after 28 April, 2017. Settlement must occur on or before 30 June, 2017.
  5. This offer is not available in conjunction with any other offers or discounts offered by Renewal SA. Further, this discount is not redeemable for cash and is non-transferable.
  6. This discount will not be honoured if the allotment does not settle or does note settle on time.
  7. Eligible vacant allotments for the purposes of this offer are:

Vacant housing allotments (as outlined in the table below) owned by Renewal SA and located within the development known as The Square at Woodville West (not including Apartments, Terrace product or development allotments) that are listed for sale through The Square’s selling agents, Harcourts Property People, RLA60810.

Eligible Allotment List Price Stamp Duty Savings Revised List Price
Lot 2 Henderson Avenue $335,000 $13,080 $321,920
Lot 81 Nicholls Terrace $335,000 $13,080 $321,920
Lot 92 Elizabeth Street $365,000 $14,580 $350,420
Lot 96 Elizabeth Street $410,000 $16,830 $393,170
Lot 98 Elizabeth Street $380,000 $15,330 $364,670
Lot 99 Elizabeth Street $370,000 $14,830 $355,170
Lot 100 Elizabeth Street $370,000 $14,830 $355,170

Some purchasers, due to their individual circumstances, may not be eligible for any or all of the potential savings of the various abovementioned incentives and Renewal SA is under no obligation to make up the difference between the actual savings realised by a purchaser and the full value of the potential savings as listed above.

Stamp duty is a lump-sum tax that anyone buying a property or land costing more than a set amount has to pay. Given an equivalent discount has been applied to the purchase price, Stamp Duty will still be payable by the purchaser. The rate you’ll pay the tax varies based on the price of the property and the property type. More information about Stamp Duty and eligible concessions can be found by visiting https://www.revenuesa.sa.gov.au/taxes-and-duties/stamp-duties

Version 1, 28 April, 2017

 

 

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