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NSW STAMP DUTY CONCESSIONS worth Noting :
As at 28 02 017 – NSW FIRST HOME BUYER STAMP DUTY CONCESSIONS
Many potential first home buyers mistakenly believe the NSW
Government cancelled the First Home Owners Grant (FHOG). However, for certain
types of transactions, an incentive still exists.
Eligible first home buyers can receive up to $10,000 towards either a brand new home, ‘off-the-plan’ build, or 'land purchase' to do their own build.
To be eligible, the property value must be less than $750,000 and either previously unlived in or meet the criteria of being ‘substantially renovated’.
In addition to the increased FHOG incentives, first home buyers may also be eligible for stamp duty concessions (see below).
New homes up to the value of $550,000 receive the maximum concession, and vacant land up to a value of $350,000 receives a 100% concession.
There are certain eligibility criteria for these incentives, however, an assessment can be made to work out if someone qualifies.