Queensland Budget 2018: real estate changes

The Queensland Government recently delivered the budget for 2018.  Here’s what you need to know:

First Home Owner’s Grant 

The Queensland First Home Owner’s Grant has been extended for a further 12 months.

However, the value of the First Home Owner’s Grant will be reduced to $15,000 (down from $20,000) from 1 July 2018. Eligibility requirements remain the same.

Contracts entered into before 30 June 2018 may still be eligible for the $20,000 First Home Owner’s Grant. Please feel free to contact us to discuss whether your clients’ transactions qualify.

Additional Foreign Acquirer Duty (“AFAD”)

From 1 July 2018, AFAD will increase from 3% to 7%.

AFAD must be paid by foreign individuals, corporations and trusts in addition to ordinary transfer duty.

If you’re concerned that a party to a Contract may be a characterised as a foreign entity for the purposes of calculating AFAD, please contact us. We’re happy to help you determine whether AFAD applies to your clients’ transactions.

Land Tax

Property owners with holdings of $10 million or more will be liable for an additional 0.5% in Queensland Land Tax from 1 July 2018.

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About ljgrealestate 据联大

Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
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