Investors take note: $5000 off

Investors take note: $5000 off in stamp duty for your new home/off the plan purchase

Effective from 1 July 2012, under the NSW New Home Grant, investors purchasing residential properties in NSW are eligible for $5000 off in stamp duty if they purchase:

1. new homes/off the plan with a purchase price < $650,000; or
2. vacant land where a new home is to be built with a purchase price < $450,000.

Previously, investors purchasing off the plan residential properties are subject to full stamp duty unless the Property is subject to the HBB scheme.

To apply for the stamp duty discount, you will need to lodge your application within 3 months after exchange of Contracts. You will need to sign the form in the presence of a qualified witness, eg. Solicitor.

At Zhang Partners, we will ensure that are your eligible grants and entitlements are thoroughly considered and we will take care of your entire application for the grant if eligible.
If you are an investor purchasing off the plan or vacant land, give our office a call today.

For more information on the NSW New Home Grant, see http://www.osr.nsw.gov.au/lib/doc/factsheets/ofs_nhg1.pdf.

Anica Zhang
Principal Lawyer l Notary Public