Stamp duty “slashed” in New South Wales

Broker News –

he New South Wales government yesterday announced temporary adjustments to stamp duty for certain first home buyers (FHBs) as part of its COVID-19 recovery plan.

Under the changes, no stamp duty will be charged on new homes for FHBs below $800,000 in value, up from the former $650,000. Stamp duty relief will also apply, on a scaled basis, to newly built homes valued between $800,000 and $1 million, as well as to vacant land worth up to $400,000.

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