The Principal Place of Residence Rebate (PPRR) is in place to assist persons buying a new residence or a home to be built by reducing the stamp duty that would otherwise be payable.
The rebate is not means tested or depend on the value of the property but is not available with any other concession. You may be eligible if you meet the following criteria:
- you are buying the whole of the property in your own right
- you will be using the property as your principal place of residence within 12 months of purchasing the property for a minimum of 6 months. * This varies if you are building
This application is normally made through your Conveyancer and reduces the stamp duty payable at settlement.