Name of the Organization : Northern Territory Department of Treasury & Finance
Type of Facility : Senior/ Pensioner & Carer Concession
Country : Australia
Website : https://treasury.nt.gov.au/
Senior/ Pensioner & Carer Concession:
The Senior, Pensioner and Carer Concession (SPCC) was introduced on 4 May 2010 to assist eligible senior citizens, pensioners and carers that are not first home owners acquire a home or land on which to build a home by reducing the stamp duty that would otherwise be payable.
Related : Australia Northern Territory Department of Finance Register For Payroll Tax : www.statusin.org/7019.html
The SPCC is an amount up to $8500 off the stamp duty payable which represents the stamp duty on approximately the first $263 200 of the value of the property acquired.
The scheme is not means tested but eligibility ceases if the dutiable value of the home or land at the date of the conveyance exceeds $750 000 and $385 000 respectively. There is no limit on the cost of a home to be built on land.
Where these thresholds are exceeded, the SPCC does not apply but purchasers may be eligible for the stamp duty Principal Place of Residence Rebate subject to the criteria for that scheme being met.
The Territory Revenue Office administers the scheme
SPCC Eligibility Test:
This eligibility checklist is a guide only. To test your eligibility for the Senior, Pensioner and Carer Concession, please answer the following questions:
This checklist is based on criteria applicable on or after 4 May 2010.
Test your eligibility : https://treasury.nt.gov.au/
Purpose of the SPCC :
The SPCC was introduced on 4 May 2010, to assist eligible senior citizens, pensioners and carers who are not first home owners to acquire a home or land on which to build a home by reducing the stamp duty that would otherwise be payable. The scheme is not means tested but eligibility ceases if the dutiable value of the home or land at the date of the conveyance exceeds $750 000 and $385 000 respectively. There is no limit on the cost of a home to be built on land.
Eligible senior citizens, pensioners and carers who are first home owners, may be entitled, instead of the SPCC, to the First Home Owner Grant (FHOG). The FHOG represents a greater benefit than the SPCC, but only one of the SPCC or the FHOG can be applied for in relation to a particular transaction.
Persons who are ineligible for the SPCC and FHOG, may be eligible for the stamp duty Principal Place of Residence Rebate (PPRR). For further details, refer to the TRO website at www.revenue.nt.gov.au.
SPCC Calculator:
This calculator provides an indication of the stamp duty payable on the purchase of a home, or land on which to build a home, where the purchaser is eligible for the Senior, Pensioner and Carer Concession (SPCC).
For contracts signed on or after 4 May 2010, the concession is an amount up to $8500 off the duty payable.
Note: Purchasers eligible for SPCC are not entitled to the Principal Place of Residence Rebate or the First Home Owner Grant.
For more information or assistance with using this calculator please contact the Territory Revenue Office.
Calculate Here : https://treasury.nt.gov.au/