With this new financial year 2023/24 comes changes to various schemes with Revenue NSW. So if you're a first home buyer in particular, read on - the following changes apply to contracts that are exchanged on or after 1 July 2023:
1. First Home Buyers Assistance Scheme
On 11 November 2022, the NSW State government passed the Property Tax (First Home Buyer Choice) Act 2022 (“the Act”) which provides first home buyers with alternatives when paying stamp duty.
The Act provides first home buyers with the choice of either:
1. paying stamp duty at...
The following is a summary of recent the current state of the various Federal Government Schemes and Grants which apply to first home buyers as well as the recent HomeBuilder Grant scheme.
First Home Buyer Assistance Scheme (FHBAS) – more information is available here.