NSW OFFERS STAMP DUTY RELIEF FOR FIRST HOME BUYERS

NSW OFFERS STAMP DUTY RELIEF FOR FIRST HOME BUYERS

The NSW government is reportedly pushing ahead with stamp duty relief to support the economy amid the COVID-19 pandemic.

The state government will temporarily dump stamp duty for first-home buyers purchasing new properties worth up to $800,000, and discount stamp duty for homes costing up to $1 million, News Corp reported on Monday.

 

 

Premier Gladys Berejiklian said the changes would benefit homebuyers and builders, boost housing construction and support jobs.

The changes will come into effect from August.

State Treasurer Dominic Perrottet has previously indicated he wants to abolish stamp duty as part of a bid to revive the economy.

Australian Associated Press