The tax authority has said home buyers should be cautious of firms claiming they can get them a refund on stamp duty .

For example, if your tax liability is $500, and you claim a non-refundable credit worth $1,000, you won’t get a tax refund. But you wouldn’t owe anything, either.

Stamp duty refunds are available under the scheme at the difference between the previous 2% rate of stamp duty on non-residential property, and higher subsequent rates of 6% and 7.5% (as applicable).

This differs from a non-refundable credit, which can reduce the taxpayer's liability down to zero, but that is the limit. No money can be refunded to the taxpayer, no matter how much of the tax ...