Transfer duty reform
The Queensland government is changing the transfer duty home concession rules, meaning a better deal for retirement village residents.
This change applies to situations where villages require a lease-back of the resident’s freehold unit to the operator and then a sub-lease back to the resident.
This could mean a refund of $4,000 in duty payments for some residents.
Call the Office of State Revenue on 1300 300 734 for more information.
