Stamp duty relief

16 June 2009: The NSW Budget, announced today, provides a surprising new benefit for purchasers of new and off-the-plan property.
Homebuyers will receive a 50% stamp duty reduction on newly built houses worth up to $600,000 from July 1 until Hune 2010, with plans to review the measure in 2010.
Buyers will save up to $11,245 in stamp duty charges under this new measure.
The stamp duty reduction will be available for newly-constructed houses and units, house and land packages, along with the current stock of new homes and units which have never been occupied or previously sold. It is also available for off-the-plan purchases.
The new measure does not affect first home buyers, who already pay no stamp duty on properties under $500,000 in price and currently receive $10,000 in NSW and Federal Government grants (to end June 2010).

 

 

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