FHB STAMP DUTY SLASHED
NSW Government Announced a big boost for first home buyers
NSW Government announced changes to the First Home Buyers Assistance Scheme. For 12 months commencing 1 August 2020, eligible first home buyers will have full exemption from stamp duty for new homes up to $800,000 with stamp duty discounted for transactions up to $1 million. And full exemption from stamp duty on vacant land up to $400,000, phased out at $500,000.
This is in addition to the $10,000 First Home Owner Grant on homes worth no more than $600,000, or buying land and building a new home worth no more than $750,000 in total.
View a copy of the NSW Government Media Release, click here.
For information about additional Government Grants which you may be eligible for, click here.
