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50% off stamp duty for buyers of newly built homes
If you are purchasing a new home, you may be eligible for a reduction in the stamp duty payable on the purchase.
The NSW Housing Construction Acceleration Plan (HCAP) allows eligible buyers of newly built homes a 50% reduction in the cost of stamp duty, giving buyers a saving of up to $11,245.
People who are not first home buyers and are constructing or purchasing a new home up to $600,000 are entitled to the 50% stamp duty reduction until June 31st 2010. An off the plan purchase will be eligible only if the agreement for sale states that it must be completed before 31 December 2011.
There is no limit on the number of new homes a person may purchase under this scheme, however the home must be used as the purchasers place of residence.
The 50% stamp duty reduction also applies to investors.
To find out more information about the housing scheme visit the
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