Home » Finance »

NSW property law & stamp duty changes

 

Under the NSW Home Builder’s Bonus, from July 1, 2010:

Pre-construction stage Stamp duty

• Stamp duty will be cut to zero for off-the-plan home purchases worth up to $600,000 – a saving of up to $22,490.

• The zero stamp duty will only apply prior to any construction commencing on house and land packages or new apartments.

NSw property changes

Under construction stamp duty

• Stamp duty will be cut by 25 per cent for people buying a newly-constructed home worth up to $600,000 – a saving up to $5,623.

• The 25 per cent stamp duty cut applies to home purchases made at any time during the construction period, or at completion.

First home buyers NSW

• First home buyers will also be eligible for these stamp duty cuts, giving them total benefits of up to $29,490

• They will still be able to access the NSW Government-funded $7000 First Home Owners Grant as well as the NSW Home Builder’s Bonus.

Empty-nesters

• Stamp duty for people aged over 65 will be cut to zero when they purchase a newly-constructed home worth up to $600,000 – a saving up to $22,490.

• This will only apply to people aged over 65 selling their primary place of residence and moving to a newly-constructed home, to encourage down-sizing and to encourage the regeneration of the state’s housing stock.

Get all the information on thes changes to the property sector in our 2 pdf files  uploaded here

http://www.australianbusinesstimes.com/wp-content/uploads/2010/06/ofs_hbb11.pdf

http://www.australianbusinesstimes.com/wp-content/uploads/2010/06/7-6-10_Treasurer-2_Zero_stamp_duty_-_Australian-first_Home_Builders_Bonus_property.pdf

Thanks to : http://kpdn.com.au/

 

Related Posts

  • No Related Posts
 
 

1 Comment

  1. Nice dispatch and this fill someone in on helped me alot in my college assignement. Say thank you you on your information.

 
 

Leave a Comment

 

You must be logged in to post a comment.