Conveyancing Parramatta – NSW Home Builders Bonus

Conveyancing Tips – Introducing the New Housing Concession

From 1 July 2010, the NSW Government introduced the NSW Home Builders Bonus in the form of New Housing Concession, a range of exemptions and concessions for new homes, homes off-the-plan, and vacant land for new homes. The NSW Home Builders Bonus and New Housing Concession also provides exemptions for eligible seniors (aged 65 years and over) purchasing a new home as their principal place of residence.

How much can I save?

For home buyers who do not qualify for the Seniors Principal Place of Residence Duty Exemption, the New Housing Concession will apply in the following scenarios:

  • If you buy vacant land for not more than $400,000 to build a new home, you could save up to $13,490 in stamp duty.
  • If you buy a new home as part of an off-the-plan purchase for not more than $600,000 and construction has not started, you could save up to $22,490 in stamp duty.
  • If you buy an already built new home or a home as part of an off-the-plan purchase for not more than $600,000 and construction has started or is already complete, you could be entitled to a 25% concession in stamp duty and save up to $5,622.50.

Look out for our other articles on conveyancing and property transactions in New South Wales. We are property lawyers in Parramatta providing fixed fee conveyancing services and updates in property law.

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Ern Phang

Ern Phang
Director – Property Lawyer

This website is supported by Phang Legal, a law firm in Parramatta providing fixed fee conveyancing services across Sydney and New South Wales. is the solicitor director of Phang Legal.

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