The ABC is explaining Thursday’s Supreme Court decision on stamp duty which is going to have some knock on effects:
The ACT Government could be liable to pay back hundreds of thousands of dollars to home and land buyers after a landmark Supreme Court ruling.
A young couple who bought a block of land at Crace in Canberra’s north for $81,000 say they were promised as first home buyers that they would only need to pay a stamp duty of $20.
But their lawyer Allan Nelson says that is not what their bill came to.
“They got one great shock when later in the year it was assessed at almost $17,000,” Mr Nelson said
Yesterday the Liberals’ Brendan Smyth was asking what happens now:
“The Government needs to detail:
— How many people could be entitled to a similar stamp duty refund?
— How much will these refunds cost the ACT Government?
— And how was it that conflicting advice was given to eligible concession homebuyers?
It would be nice to think the Government had answers.