NSW stamp duty changes a ‘win-win’ for first-home buyers and tradies

Stamp duty will be temporarily axed on new homes valued under $800,000 as part of a NSW government initiative to encourage more home building.

NSW Premier Gladys Berejiklian announced on Monday the state government will temporarily eliminate stamp duty for first-home buyers purchasing newly built homes valued up to $800,000 from August 1, with tapered discounts for properties valued up to $1 million.

As it stands, first-home buyers are exempt from paying stamp duty on newly built homes valued up to $650,000.

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