From this Saturday (1 July), the transfer duty exemption threshold will increase from $650,000 to $800,000 and the concessional rate will increase from $800,000 to $1 million for new and existing home purchases by eligible first home buyers.
The changes, part of the Minns government’s First Home Buyer Assistance Scheme (FHBAS), will reportedly mean that 84 per cent of FHBs will either pay no stamp duty on properties up to $800K or pay a reduced rate between $800K and $1 million.
Find out more by contacting an experienced iShare Broker on 0478908007
