NSW FHOG ends 1/1/2012

Posted Wednesday, 07 September 2011 at 12:27 by Michael Chan
Tagged: house prices | Investors | First home buyer
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 Duties Amendment (First Home—New  Home) Bill 2011

The NSW First home owners Stamp duty concesion will end on 1/1/2012; the new home grant  bill was pased on 3/9/2011.

A replacment/amendment has been developed, in which new properties including substantially renovated home, will be exempt from stamp duty up tp $600,000 for new homes or substantially renovated home and up to $450,000 for vacant land.

This means as of 1/1/2012 NSW FHO  buying an existing property will be liable for stamp duty BUT FHO and investors buying a new property, vacant land or substantially renovated home will be exempt. 

http://www.parliament.nsw.gov.au/prod/parlment/nswbills.nsf/0/d5113a3388a5b510ca257903000d515e/$FILE/b2011-113-d08-House.pdf