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Rapport Taxation Services :: Blog

First Home - New Home Scheme (NSW)

Aileen Li - Saturday, March 15, 2014

The First Home - New Home scheme commenced from 1 January 2012 and provides eligible purchasers with exemptions from transfer duty on new homes valued up to $550,000 and concessions for new homes valued between $550,000 and $650,000 in New South Wales (NSW). It replaces the First Home Plus Scheme from 1 January 2012.

Eligible purchaser buying a vacant block of residential land to build their home will pay no duty on vacant land valued up to $350,000, and will receive concessions for vacant land valued between $350,000 and $450, 000.

These rates apply from 1 July 2012.

 

When does it apply?

It applies to eligible agreements for sale or transfers (where there is no agreement) entered into on or after 1 January 2012.

 

For more information, please refer to:  http://www.osr.nsw.gov.au/grants/fhnh




 

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