NSW Property Alert – Stamp Duty Exemptions
By Andrew Bass
The NSW Budget for 2011-2012 has been released; under the proposed measures stamp duty exemptions and concessions for first home buyers will change to only include newly constructed homes.
These changes are expected to start on 1 January 2012.
Until the changes take effect the exemption for stamp duty will continue for first home buyers on existing homes valued under $500,000.00, stamp duty concessions continue for homes valued between $500,000 and $600,000.
The proposed changes are contained in the Duties Amendment (First Home–New Home) Bill 2011, for a detailed list of changes go to:
