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Save on Stamp Duty.
NSW Home Builders Bonus.
The NSW Home Builders Bonus (HBB) provides exemptions and concessions for certain purchases of new homes, homes off the plan and vacant land on which a new home will be built (New Housing Concessions)
1. Full exemptions on transactions relating to vacant land and off
the plan purchases where building has not commenced.
A saving of approximately $23'000.
2. Partial concession of 25 per cent of duty payable applies to
completed new homes or off the plan purchases where construction
has commenced.
3. There is no limit to the numbers of new homes a person may purchase
under this concession.
Senior Principal Place of Residence Duty Exemption provides
a full exemption for eligible seniors, age must be 65 and over,
purchasing a new home that is to be occupied as their principal place of
residence and selling their current residence.
To be eligible for HBB:
a) Vacant land must not exceed $400,000 and new homes must
not exceed $600,000.
b) Agreement for sale or transfer of vacant land or a new home
will be eligible for consideration under HBB where there are entered
into on or after 1 July 2010 and before 1 July 2012.
c) For more information on eligibility requirements for transaction,
refer to OSR.NSW.GOV.
The NSW Home Builders Bonus (HBB) provides exemptions and concessions for certain purchases of new homes, homes off the plan and vacant land on which a new home will be built (New Housing Concessions)
1. Full exemptions on transactions relating to vacant land and off
the plan purchases where building has not commenced.
A saving of approximately $23'000.
2. Partial concession of 25 per cent of duty payable applies to
completed new homes or off the plan purchases where construction
has commenced.
3. There is no limit to the numbers of new homes a person may purchase
under this concession.
Senior Principal Place of Residence Duty Exemption provides
a full exemption for eligible seniors, age must be 65 and over,
purchasing a new home that is to be occupied as their principal place of
residence and selling their current residence.
To be eligible for HBB:
a) Vacant land must not exceed $400,000 and new homes must
not exceed $600,000.
b) Agreement for sale or transfer of vacant land or a new home
will be eligible for consideration under HBB where there are entered
into on or after 1 July 2010 and before 1 July 2012.
c) For more information on eligibility requirements for transaction,
refer to OSR.NSW.GOV.
