Home Builders Bonus

If you’ve been holding back waiting for the right time to purchase a new property or build a new home, then this could be it!

One of the biggest costs when buying real estate is Government Stamp Duty.  Not anymore… thanks to the Home Builders Bonus Scheme introduced by the NSW Government.

The best part about this Scheme is that it’s open to everyone, including Investors who purchase a new house or apartment.  The purchase can be made in your own name, or in the name of any entity, including a Company or Trust structure.

You will pay ZERO Stamp Duty for new homes up to $600,000 purchase price, or $400,000 for vacant land.  For homes already under construction, a 25% discount will be applied.

As an investor, there are innumerable benefits of buying ‘new property’ whether it be an ‘off-the-plan’ apartment or vacant land so long as construction of a house commences within 26 weeks of the land settlement date.

A new home is deemed to be a home that has not been previously occupied or sold as a place of residence, and includes a home that is a substantially renovated home.

To be eligible, you will need to have entered into the contract prior to 1 July 2012  (that’s less than 6 months away) and apply for the Home Builders Bonus exemption within 3 months of exchanging the contract.

If you have already entered into a contract of this nature, you may already be eligible so long as you entered into the contract after 1 July 2010 and apply within 3 months of the date of that contract.

Home Builders Bonus Fact Sheet

Home Builders Bonus_Application Form

For further information, check out the FAQ’s

If you have any questions contact us here

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