The new First Home Buyers Assistance Scheme commenced 1 July 2017.
The exemption for first home buyers applies to contracts executed on or after 1 July 2017 for properties up to $650,000.
Stamp duty concessions apply for properties valued between $650,000 and $800,000.
This exemption applies to new and existing homes purchased by first home buyers.
If you are thinking of purchasing or selling a property please contact our Andrew Frank or email us at info@franklegal.com.au
This article is provided to the reader for general information. It is not legal advice. It was written by Reegina Moteea and edited by Andrew Frank.
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Keywords: purchasing, stamp duty, exemption