A reminder that NSW First Home purchasers have a little over two weeks to exchange a NSW contract and be eligible for the First Home Buyer’s duty concessions or exemption. On 1 January 2012, the First Home Plus duty scheme will be replaced by the First Home – New Home Scheme.
The First Home – New Home Scheme provides that a first home buyer will only be eligible for the duty concession or exemption if it is for the acquisition of a new home or vacant land intended to be used as the site for a new home. This will make a large number of first home purchaser’s ineligible for the concession/exemption they would otherwise have been eligible for in 2011.
Under the First Home Plus duty scheme , a Contract with a purchase price of $500,000.00 (if entered into prior to 31 December 2011) will give a first home buyer a total duty concession (a saving of $17,990.00).
If you are a first time home buyer and need a property settled in a timely manner, contact Christine Martin our Property and Commercial Department Manager on 07 5506 8245 or email firstname.lastname@example.org – WE OFFER DISCOUNTS ON OUR FEES TO FIRST HOME BUYERS![AM_MOREINFO]