As at 1st July 2017 the New South Wales government has made concessions for First Home Buyers of property purchases.
- Stamp duty on all homes to a value of $650,000 has been abolished
- Stamp duty relief has been offered on homes from $650,000 to $800,000
- There is a $10,000 grant for builders of new homes up to $750,000 – and purchasers of new homes up to $600,000
- Insurance duty on lenders’ mortgage insurance has been abolished
- Foreign investors are now required to pay higher duties and land taxes
- Investors cannot defer paying stamp duty on off-the-plan purchases
For more information, go to https://www.nsw.gov.au/improving-nsw/projects-and-initiatives/first-home-buyers/
