Melbourne Stamp duty exemption to save up to 18,000 construction jobs
CFMEU VIC The CFMEU has come out this week applauding the Victorian Government’s announcement to grant a stamp duty exemption on inner city residential developments amongst other property sector stimulus measures. The announcement means no stamp duty will be paid on new residential property worth up to $1 million in the Melbourne local government area, and concessions of up to 100% on stamp duty if the property has been unsold for more than 12 months, for contracts entered from 21 May 2021 to 30 June 2022. Melbourne city’s construction sector has been decimated by the pandemic, with only ...