Stamp duty relief welcomed for victims of Eyre Peninsula bushfires

Stamp duty relief for victims of Eyre Peninsula bushfires

4 February 2005

Stamp duty relief for victims of Eyre Peninsula bushfires Victims of the Eyre Peninsula bushfires will have fees and stamp duty charges waived when financing or refinancing loans.

The State Government announced the relief last month and released the details of the package today. People who are taking out new loans or refinancing existing loans as a result of property damage from the January 2005 bushfire will be eligible for the relief.

REISA President Mr Robin Turner said this assistance would go a small way towards helping victims get back on their feet.

“The Eyre Peninsula fires hit a lot of families hard – both with property damage and loss of life and stock,” Mr Turner said.

“REISA supports this mortgage relief measure offered by the State Government so that the victims can be spared some of the monetary costs associated with rebuilding their lives.”

“The State Government has shown great initiative with this announcement and REISA hopes many families will benefit from the waivers.”

The Government will provide once-only ex gratia mortgage stamp duty relief and will waive mortgage registration charges for victims who are refinancing existing loans or taking out new loans as a result of the fire.

The relief will only apply to loans taken out or refinanced with a recognised financial institution within the specified period, from the date of the bushfire until 31 December, 2005. All Land Titles Office or General Registry Office fees will also be waived on eligible documents.

“It is hard to understand what these victims are going through but I'm sure they'd agree with me in saying that every little bit helps,” Mr Turner said.

“The spirit shown by South Australians in the aftermath of this disaster has been remarkable and this will hopefully assist these local communities in their recovery efforts.”

People must make an application to Revenue SA in order to qualify. An Application Form can be obtained from the Revenue SA website www.revenuesa.sa.gov.au or by contacting the office on (08) 8226 3750.