11 Jun 2010
The NSW Government this week announced cuts to stamp duty costs, which has a lot of builders and developers very excited.
From July the 1st stamp duty will not have to be paid for any purchasers who buy homes worth up to $600,000 off the plan and before construction has started.
For those who buy homes that are already under construction or newly built and are worth up to $600,000 you will also save 25 per cent on your stamp duty.
Stamp duty has also been eliminated for over-65s who sell their home to move into a newly built dwelling worth up to $600,000, in a bid to encourage downsizing.
These cuts in stamp duty will be in place for the next 2 years and they should provide a very welcome boost to development in NSW.