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ARTICLE · 06 FEBRUARY 2013

First home benefits - what is available in NSW post 1 October 2012?

Colin Biggers & Paisley
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The article discusses the current situation where some NSW First Home Owner schemes have been replaced by new schemes.

AustraliaReal Estate and Construction
Claire Day
Claire Day
Brendan Maier
Brendan Maier

In brief - Some First Home Owner schemes in NSW have been replaced by new schemes

The First Home Owner Grant has been replaced by the First Home Owner Grant (New Home) Scheme. The First Home Plus Scheme has been replaced by the First Home - New Home Scheme. Stamp duty concessions are available under the NSW New Home Grant Scheme.

$7,000 First Home Owner Grant no longer available

The $7,000 First Home Owners Grant for established properties ceased to be available from 1 October 2012. This means that if you are a first home buyer who enters into a contract for sale on or after 1 October 2012, you are no longer entitled to this grant.

The $7,000 grant is still available to first home buyers who entered into a contract for sale for an established property prior to 1 October 2012.

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