NSW Premier Dominic Perrottet says the stamp duty reform to be announced in today's state budget will 'lower the barriers' to owning a home for first-time buyers.
NSW Premier Dominic Perrottet is embarking on his long-touted stamp duty reform, by offering some first home buyers the choice of making the up-front payment or opting into an annual property tax.$728 million has been allocated as part of the state government's housing affordability packageThe scheme is due to be available from January 16, 2023
If buyers decide to opt out of paying stamp duty, they will pay $400 plus 0.3 per cent of the land value per year. "We want to lower the barriers to owning a home for first home buyers seeking a place of their own," Mr Perrottet said.
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