Benefits to first home buyers purchasing a newly constructed home

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With a focus on boosting new housing construction, the NSW Government recently released its Budget for 2011-2012.

From 1 January 2012, First Home Plus exemptions and concessions

will be replaced by the First Home - New Home Scheme.

Currently, eligible purchasers will pay no stamp duty on any homes valued up to $500,000 and there are concessions on duty for homes valued between $500,000 and $600,000.

Please see full article below for more information.

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Tax

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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