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Stamp Duty relief for NSW off-plan property
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NSW state government Budget announcement: From July, buying a home off the plan for less than $600,000 incurs no stamp duty, a saving of up to $22,500. This doubles the 50 percent stamp duty cut on newly built houses worth up to $600,000 from July 1 2009 . Do you think this will be a vital second step in alleviating the chronic shortage of housing in the state or will it merely result in increased profit for developers?
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4 Comments
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Daniel Cameron
06:28 AM on October 11, 2010
I don't think it will be a vital second step in alleviating the chronic shortage but more of a case of the government had to. They just can't keep strangling people financially.
Though it's interesting for me going up N.S.W. and Queensland soon looking at securing development sites with options i will factor this into my feasibility study numbers. Thanks
Daniel
http://forpropertyinvestors.com
Though it's interesting for me going up N.S.W. and Queensland soon looking at securing development sites with options i will factor this into my feasibility study numbers. Thanks
Daniel
http://forpropertyinvestors.com
Daniel Cameron says...
I don't think it will be a vital second step in alleviating the chronic shortage but more of a case of the government had to. They just can't keep strangling people financially.
Though it's interesting for me going up N.S.W. and Queensland soon looking at securing development sites with options i will factor this into my feasibility study numbers. Thanks
Daniel
http://forpropertyinvestors.com
It does even the playing field with Victoria, Daniel. Your state has enjoyed stamp duty relief for off-plan purchases since I started investing. Look me up when you are in Sydney. Always able to assist with development sites and I understand Options/feasibilities
Graeme 0414816408
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StampDutyProperty
10:22 AM on October 23, 2011
great news....saving 50% is a big saves already,this is truly a solution and help to our slowing down sales of houses
http://www.estampduty.com.au/
http://www.estampduty.com.au/
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