Pay zero stamp duty on property up to $ 600,000

The government, last year, has introduced some major changes to stamp duty that is payable on a new property purchase. These changes are of major advantage to Australians as they represent a huge saving in buying new property.

NSW Home Builder’s Bonus

The NSW Home Builder’s Bonus will come into effect from 1 July 2010 for a period of up to two years. This is designed to provide stamp duty relief for eligible property buyers as follows:

Pre-construction Stage

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

Note this is also available to property investors.

Properties Under Construction

Stamp duty will be cut by 25 percent for people buying a newly-constructed home worth up to $ 600,000

First Home Buyers

First home buyers will also be eligible for the NSW Home Builder’s Bonus meaning that including the First Home Owners Grant of $ 7,000, the potential maximum benefit is $ 22,490.

It is important to remember that these fantastic savings are also available to investors, repeat house buyers and investors alike.

Best regards,

Andrew Krauksts