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Without the off-the-plan concession, Asha and Alex would pay land transfer duty on $1,150,000 at general rates. This means the dutiable value of their house after applying the off-the-plan concession is $632,500 ($1,150,000 – $517,500). This means the dutiable value of his apartment after applying the off-the-plan concession is $440,000 ($950,000 – $510,000). Here are examples to help you understand how the off-the-plan concession works.
