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ACT Revenue Office demands hundreds of Canberrans repay tens of thousands of dollars in home stamp duty concessions

Article Summary

Marian’s son, a first-time home buyer, utilized the ACT government’s stamp duty concession scheme to purchase a unit. However, due to mental health issues, he had to move into 24-hour supported care, causing the family to rent out the unit. Upon receiving a letter from the ACT Revenue Office questioning his eligibility for the concession, the family faced potential penalties and interest charges. This experience has left many ACT residents confused and stressed, prompting Liberal MLA Ed Cocks to call for a pause on reassessments and an inquiry into the revenue office’s debt collection practices.

What This Means for You

  • Be aware of the specific conditions and time frame of any concession or exemption you apply for, as failing to meet them can lead to financial penalties.
  • If you have received a review notice from the ACT Revenue Office and are unsure of your options, consider seeking professional advice to navigate the appeals process and assess your financial situation.
  • MLA Ed Cocks’ call for an inquiry into the revenue office’s reassessment and debt collection practices highlights the need for transparency and fairness in taxation. Advocate for better communication and understanding of taxation policies to protect your interests.
  • The sharp increase in reassessments since the middle of 2022 emphasizes the need for vigilance and understanding of your tax obligations to avoid potential financial consequences.

Original Post

Marian’s son travelled a long road to live independently. After many years of hard work, dedication and family support, things were looking up.

“So he was very well, and he had got his ute and a job, and he got the place lined up, and then it was almost too exciting for words,” Marian said.

He bought a unit, with the help of the ACT government’s stamp duty concession scheme, which is a program designed to help first home buyers break into the market.

It was naturally a big achievement for Marian’s son, and his first six months of living in his new place went well, but then came an abrupt change.

“He had a complete collapse really, of his mental health,” Marian said.

“That was terrible. Probably the worst time of my life maybe.“

With little to no warning, Marian’s son had to move into 24-hour supported care.

It was a very challenging time, and with a mortgage on the home that needed regular repayments, the family moved a tenant into the unit.

A man with short dark hair sits at a computer with his back to the camera.

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