Intention to live in this property

What do you need to know?

Whether or not a purchaser intends to live in the property within nine months of the closing date is a determinant in eligibility for the first time home buyer land transfer tax rebate. If a purchaser intends to rent, Airbnb, or just hold this property without living in it, they will not be eligible for this incentive.

Why does it matter to Ownright?

We collect and distribute all funds related to a property transaction and this includes land transfer tax. If a purchaser is eligible for the first time home buyer land transfer tax rebate, this will reduce the amount of land transfer tax owed and therefore the amount we will need to collect. As the intended use of the property is a key factor in determining eligibility, it is information we need to collect.