Pensioner duty concession scheme

The Pensioner Duty Concession Scheme (PDCS) is an ACT Government initiative that helps eligible pensioners who own a residential home move to another home that better suits their needs – for example, moving from a house to a townhouse. The scheme reduces the duty they owe on their purchase of a home or residential vacant land. The ACT Revenue Office oversees the scheme.

Transaction date

The PDCS applies at different levels depending on the transaction date, which is the date of grant, transfer, or agreement for transfer (whichever is first – not the settlement date).

Changes from 7 June 2017

Please note that the following changes to the PDCS affect transactions dated 7 June 2017 or later:

Eligible transactions – homes or vacant land

The PDCS applies to the purchase of an eligible home (including a new or established home) or a block of vacant residential land where the transaction date occurs between 7 June 2017 and 31 December 2017.

An ‘off the plan’ purchase agreement, where a home is built on the land before settlement of the agreement, is also eligible for the PDCS.

Making an application

For property granted, transferred or agreed to be transferred from 7 June 2017 to 31 December 2017 use the PDCS Application Form – 7 June 2017 to 31 December 2017 [DOC,87KB] , [PDF , 140KB].

Eligibility

To be eligible for the PDCS, you need to meet the following requirements:

Eligible pensioner

An eligible pensioner is someone who holds one of the following on the transaction date:

Do you receive an Australian Centrelink age pension or Department of Veterans Affairs age pension equivalent?

Thresholds

We update the upper and lower property value thresholds for residential homes and residential land every three years and calculate the concessional duty based on these thresholds.

Tables 1 and 2 show the property value and payable concessional duty for eligible homes and vacant blocks of land, respectively; the duty you owe depends on the date you entered into the transaction to buy the property.

Table 1 – Concessional duty for an eligible home

Date range

Property value

Duty payable

7 June 2017 to 31 December 2017

$680,500 or less

$20 (minimum duty)

More than $680,500 but less than $895,000

$15.75 for every $100, or part of $100, by which the dutiable value exceeds $680,500 ($20 minimum duty)

$895,000 or more

No concession

1 January 2017 to 6 June 2017

$661,000 or less

$20 (minimum duty)

More than $661,000 but less than $860,000

$16.60 for each $100 (or part of $100) that the property value is more than $661,000 ($20 minimum duty)

$860,000 or more

No concession

8 June 2016 to 31 December 2016

$660,000 or less

$20 (minimum duty)

More than $660,000 but less than $865,000

$16.30 for each $100 (or part of $100) that the property value is more than $660,000 ($20 minimum duty)

$865,000 or more

No concession

1 January 2016 to 7 June 2016

$627,500 or less

$20 (minimum duty)

More than $627,500 but less than $807,000

$17.15 for each $100 (or part of $100) that the property value is more than $627,500 ($20 minimum duty)

$807,000 or more

No concession

Table 2 – Concessional duty for vacant land

Date range

Property value

Payable duty

7 June 2017 to 31 December 2017

$361,700 or less

$20 (minimum duty)

More than $361,700 but less than $434,500

$14.15 for every $100, or part of $100, by which the dutiable value exceeds $361,700  ($20 minimum duty)

$434,500 or more

No concession

1 January 2017 to 6 June 2017

$351,300 or less

$20 (minimum duty)

More than $351,300 but less than $417,500

$15.30 for each $100 (or part of $100) that the property value is more than $351,300 ($20 minimum duty)

$417,500 or more

No concession

8 June 2016 to 31 December 2016

$350,800 or less

$20 (minimum duty)

More than $350,800 but less than $419,900

$14.80 for each $100 (or part of $100 that the property value is more than $350,800 ($20 minimum duty)

$419,900 or more

No concession

1 January 2016 to 7 June 2016

$333,500 or less

$20 (minimum duty)

More than $335,500 but less than $391,700

$17.60 for each $100 (or part of $100) that the property value is more than $333,500 ($20 minimum duty)

$391,700 or more

No concession

1
2
The greater of purchase price or market value
enter an amount. e.g. 455000
Date of grant, transfer or agreement for transfer (whichever is first)
Are you applying for the Home Buyer Concession Scheme?
Are you applying for the Pensioner Duty Concession Scheme?
Duty payable
You could be eligible for
  • The Pensioner Duty Concession Scheme
  • Duty concession:
    Duty payable with concession
  • Home Buyer Concession Scheme
  • Duty concession:
    Duty payable with concession
This calculation is based on

    Property ownership

    Applicants cannot own any other land at the transaction date other than the property they’re moving out of and the eligible property. An exception applies if they acquire property as an executor or trustee under a will.

    You must sell your existing residence within one year after:

    If you sell your existing home before you buy the new property, the sale cannot take place more than a year before the above date.

    To be eligible for the PDCS, the property you’re buying must be in the same name or names as the property you’re selling.

    Limited exemptions apply to these requirements. You may be required to lodge a written request for exemption with the Commissioner for ACT Revenue within 18 months of settlement or completion of construction.

    Residency requirements

    At least one applicant must live in the home continuously for at least a year, beginning within a year of either the settlement date or the completion of the new home’s construction.

    The commissioner can extend the time for you to meet the residency requirements, approve a shorter residency period or exempt you from the residency requirements. The commissioner can do this only:

    Without an exemption, an applicant who does not meet the residence requirements will be liable to pay full, non-concessional duty in relation to the transaction. Penalty tax or interest may also apply if the requirements are not met.

    Previous concessions

    You’re not eligible for the PDCS if you’ve previously received the Over 60s Home Bonus, and you cannot receive both the PDCS and the Over 60s Home Bonus.

    How to apply

    You have a limited window to apply for the PDCS. The ACT Revenue Office has to receive your completed application by the date the duty must be paid, that is:

    Everyone who will own the property must be part of the application, as well as the domestic partner of any owner, even if the partner will not be an owner. A domestic partner includes a spouse, civil union partner, civil partner or de facto partner.

    Post your application to:

    ACT Revenue Office
    PO BOX 293
    Civic Square ACT 2608.

    To enable us to efficiently process your application, please submit your application, along with all the necessary supporting documents, at least 10 working days before you need approval. Incomplete applications delay processing time.

    What happens next?

    Please allow 10 working days before checking on the status of your application, if we approve your application we’ll notify you in writing.