Off-The-Plan Buyers’ Confusion With Rebates, It Must Be Paid Upfront!
For agents dealing with off-the-plan sales, a particular explanation needs to be clear with your buyers regarding the stamp duty rebates as offered by the state government as an incentive to purchase.
It is what it states, it’s a rebate, not a discount. That means that the buyers are up to pay the full duty before settlement and make an application after settlement to receive their money back, and the application for the rebate must be completed and lodged by the purchaser. Whilst we do get asked quite often, it is not a duty nor a task for the settlement agent post settlement.