Budget Changes – 5 Important Dates

First Homeowner Grant & Stamp Duty Changes in NSW

Budget changes: Five important dates

June 30, 2012
The last day off-the-plan buyers other than first-home buyers — investors, upgraders and downsizers — can claim the stamp-duty exemption (Home Builders Bonus), worth more than $22,490 on a $600,000 property.

July 1, 2012
Buyers of new property other than first-home buyers will pay full stamp duty but can claim a $5000 New Home Grant for houses or apartments priced up to $600,000.

September 30, 2012
The $7000 First Home Owners Grant for existing property ends.

October 1, 2012
First Home Owners Grant for first-timers buying new property (off the plan or newly built) jumps from $7000 to $15,000. This applies for property valued up to $650,000.

Also The concession threshold for the stamp-duty exemption for new property rises by $50,000 to $550,000, with discounts on stamp duty for new property priced up to $650,000 (the concession reduces 1 per cent for every $1000 spent in that range).

January 1, 2014
First Home Owners Grant for new property reduces from $15,000 to $10,000.

 

Now may be the best time to sell your home?

For your free market appraisal call Global Property on 02 49657299 to price your house.

Global Property Warners Bay

Real Estate Agents

Global Property has offices located at Belmont Warners Bay Hamilton Wallsend in Newcastle & Lake Macquarie,

For your Valuation call 02 49657299

 

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