milly123

I have been looking into this,

Yes if you are a first time home owner, In Australia, and buying a house in NSW, you do not have to pay any stamp duty.

I read it first on there web site, then i phone them to confirm it.
You get to claim the 1st time home owners federal grant of $7000, then the NSW subsidize the rest, But you can never have owned property in Australia. to receive it.

jimandkate

not yet but hope to be over August 12 fingers crossed but hope you sell it before then Kate

louie

That depends on the price. For existing houses, nothing up to $500,000, reduced rate between $500 - 600,000 and no relief above that - see http://www.osr.nsw.gov.au/lib/doc/fa...ts/fs_fhb1.pdf

arkon

I too have been doing some research and asked the OSR, Louie is correct, no stamp duty relief if the house is more than 600,000.

milly123

If i bought a house in NSW for $495.000, would i pay stamp duty??????

When i phoned the young lady at the NSW office in sydney she said , Blah Blah Blah, I said in english please please. Then said if i bought a house i would be eligable for the NSW non paying of stamp duty if i was claiming the federal first time grant, then preceded to say I also must not have owned a house in my name in Australia.

Still left me confused.

milly123

Just been on web site again,
I read it as, if i buy at $495.00 i do not pay stamp.
Obviously its finding something below $500.000 ,

May be i am reading it wrong.

Swerv-o

Remember that stamp duty and FHOG are two different things, though the requirements are generally similar.

My understanding is that to qualify for FHOG you must:

• Not have owned (or jointly owned) property in Australia before
• Be an Australian permanent resident or citizen on the day that you apply

And in order to be eligible for the stamp duty exemption:

• Not have owned (or jointly owned) property in Australia before
• Be an Australian permanent resident or citizen on the day that you apply
• Purchase an existing property <$500k for full exemption, >$500 but <$600 for a limited exemption

I think that's right.


S

stariston

At last a positive for buyers a welcome small token next a
reduction in interest rates i hope to try and get this stalled property
market moving again

Nu-Shooz

Yep, me too. Every little helps

Sam

10 out of 10 for trying Rach!

Nu-Shooz

I've had more Karma for that post than any other time

bridie

i woulda sent you some but i need to spread

arkon

Here's the letter they sent me.

Nu-Shooz

Get spreading baby

louie

That's correct, no stamp duty unless you pay more than $500k and partial relief between $500 and $600k. No reduction if you pay more than $600k (in NSW).