NSW Stamp Duty Off-The-Plan Initiative
The building sector is celebrating the NSW Government announcement on 8 June 2010, that as of 1st July the purchaser of a new home or apartment buying off the plant will be exempt from paying Stamp Duty.
This initiative will most definitely be welcomed by the building sector and home owners alike.
There is the opportunity to save up to $22,490 for families and property investors and up to $29,490 for first home buyers. What a great incentive!
The varying incentives will be available for:
- pre-construction
- under construction
- firsthome buyers
- empy nesters
The purpose of this initiative is to give a boost to the suppy of homes available in NSW and to help builders approach lending institutions with confirmed sales in their pocket.
This initiative will run for two years from 1st July 2010.
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