NSW Property Law Changes /updates
propertyman | Jun 13, 2010 | Comments 0
NSW PROPERTY LAWS GO EASIER ON HOME OWNERS
The recently introduced New South Wales Spending spending budget packages out a number of of the most strategic property related initiatives seen to date, along with incentives targeted at enhancing housing supply and affordability instead of simply throwing money at the symptoms.
Stamp duty Axed in NSW
The most crucial story was that stamp duty, largely considered as the single most inequitable and inefficient taxes around, has become axed for anyone people purchasing a home ‘off the plan’ and under $600,000.
An ‘off the plan’ purchase essentially means buying the house before construction is completed.
At a consumer level the advantage is clearly in the stamp duty savings which could equate up to $22,490 on a home purchase.
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Filed Under: 2010 • Featured • Property Market • rates • Stamp Duty
