Title-Stamp Duty: You’re Going to Love This! | Stellar Finance Group We all know that stamp duty can make or break a purchase for some individuals, often serving as a significant barrier to home ownership. In response, the NSW state government is set to introduce new legislation that raises the threshold for stamp duty waivers and concessions for first-time home buyers. These changes to the First Home Buyers Assistance (FHBA) program include an increased threshold for stamp duty exemption. Now, first-time home buyers purchasing a property up to $800,000 will be exempt from stamp duty, up from the previous cap of $650,000. This new threshold will come into effect on July 1, 2023. Stamp duty concessions will still apply to properties priced between $800,000 and $1 million, an increase from the previous range of $650,000 to $800,000. This represents a significant improvement for first-time buyers looking to enter the property market.
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