The transfer duty exemption threshold for new and existing home purchases by eligible first home buyers increases from $650,000 to $800,000. The concessional rate maximum threshold increases from $800,000 to $1 million. Written by Megan Johnson
FHBC First home buyer assistance for contracts dated on or after 1 July 2023 Read More »
Effective 1 February 2024, fixed or nominal duties are as follows: The $10 duty has increased to $20. The $50 duty has increased to $100 except when relating to Managed Investment Schemes, which will increase to $500. The $500 duty has increased to $750. Written by Megan Johnson
Increase in Fixed and Nominal Duty Amounts from 1 February 2024 Read More »
The rates and thresholds for 2024 land tax year are as follows: General Threshold: $1,075,000 Premium Threshold: $6,571,000 General Threshold Rate: $100 plus 1.6 per cent of land value above the threshold, up to the premium threshold. Premium Threshold Rate: $79,396 plus 2 per cent of land value above the threshold (2023 tax year). $88,036
2024 Land Tax Year Rates & Thresholds Read More »
First home buyers can now choose between paying stamp duty or property tax. Stamp duty is payable when you purchase a property and the amount to be paid is calculated from the dutiable value (normally the purchase price) of the property, where the property tax will be an annual payment and the amount payable will
First Home Buyer Choice Read More »
From the 1 October 2022 Planning Certificates (Section 10.7 Certificates) will be altered to reflect the requirements set out in Environmental Planning and Assessment Regulation 2021 (2021 EP&A Regulation). Changes to the Section 10.7 Certificates were made to reduce complexity, it removes information not useful to any proposed Purchaser. The new certificate focuses on information
Changes to Planning Certificates Read More »
A question we get asked quite often is can we sell our property without a real estate agent? The answer is, yes. However, to put the property on the market you still need to have a Contract for Sale of Land prepared and, in your possession, before you can market the property or before any
Selling without an Agent Read More »
The new land tax thresholds for year 2022 are:- General threshold is $822,000.00 Premium threshold is $5,026,000.00 If you have recently purchased an investment property it is a good idea you speak to Revenue NSW to see if land tax will be payable. If you fail to register for land tax Revenue NSW may impose
Land Tax Thresholds for 2022 Read More »
On the 11 October 2021 there will be two significant changes to property law:- All land dealings will need to be lodged electronically (paper dealings will no longer be accepted). All Certificate of Titles will be abolished, this is being referred to as “cessation day”. From the cessation day, all Certificate of Titles have no
Certificate of Titles Abolished Read More »
Requisitions on title are essentially questions relating to the sale. They can include questions not addressed in the Contract i.e. if there are any disputes with neighbours about fencing. A request for requisitions, should be made within 21 days from the date of the Contract. Purchasers can make general and specific enquires about the property
What are requisition on title? Read More »
From 1 July 2021 to 31 June 2022 the First Home Loan Deposit Scheme will be available to 10,000 eligible first home buyers. The First Home Buyer Loan Deposit Scheme is an Australian Government program to support eligible first home buyers purchase their first home sooner. Under the scheme, National Housing Finance and Investment Corporation
First Home Buyers Deposit Scheme Read More »
