Residential Development Stamp Duty Refund Scheme
For multi-unit developments, at least 75% of the multi-unit development must be developed for residential purposes. Where you have a number of phases, the 75% test can be met in each phase or the entire site.
There are two tests that can be used to satisfy the ‘75% test’.
- Footprint test - dwelling units must occupy at least 75% of the total surface area. This normally applies to houses
- Gross floor space test - the dwelling units must cover the gross floor area. This is the area covered by internal measurements of the floor space of each floor of a dwelling unit. The measurement includes the internal walls and partitions. This normally applies to multi-storey apartment blocks and the 75% floor space is normally exceeded.
You do not have to satisfy the ‘75% test’ if you are building a single dwelling unit.