In New South Wales, From 1 July 2010, transfer duty exemptions and concessions are available for certain new home purchases, off the plan purchases, and vacant land purchases on which a home will be built within a specified time. We have the application forms for obtaining this benfit available on this site. Here is the government fact sheer on the new set of concessions and exemptions from stamp duty for new home builders. The new concessions are designed to encourage people who have had families and are now down sizing to build smaller homes. It is also designed to encourage people to build new homes when they are starting a new home. If you are fully eligible, it offers a complete exemption from stamp duty. It is designed to take some of the pressure on the cost of housing in Sydney as the population continues to grow with a shortage of new housing expected to continue and to drive up the price of real estate even further. However, if you are willing to enter into a contract to build a new home, you could save approximately $20,000.00 on the averagely priced home in Sydney.

We have more information available here in the form of these government information documents and application forms:

New South Wales Government Information on the New Home Builder’s Stamp Duty Exemption

Government Information on the New Home Builder’s Stamp Duty Exemption

Application form for New Home Builder’s Stamp Duty Exemption

Application form for NSW Home Builders Stamp Duty Exemption

If you have any questions about the process of how this works or the application of this bonus to a transaction that you are planning to become involved in, or you are already involved in, please do not hesitate to contact us. Lawyers are available online now to assist you and you can contact them to ask them a question using the form to the right.