2014 State Budget

On 17 June 2014, the NSW Government announced the following changes to State taxes, grants and levies as part of the 2014 State Budget. These and other changes were introduced under the State Revenue and Other Legislation Amendment (Budget measures) Bill 2014.

Abolition of Various Duties. From 1 July 2016, the following duties will be abolished:

  • duty on the transfer of business assets; and
  • mortgage duty.

New Home Grant. From 1 July 2014, the following amendments to the New Home Grant Scheme will apply:

  • Applicants must be Australian citizens, Australian residents or Australian-owned bodies.
  • Applicants are limited to only one grant for each financial year.
  • Applications no longer need to be made within 3 months.

For more information, visit the New Home Grant and Frequent Questions pages on the Office of State Revenue website.

First Home Owner Grant (New Homes). From 1 July 2014, the following amendments to the First Home Owner Grant (New Homes) Scheme will apply:

  • The cap increases from $650,000 to $750,000.

For more information, visit the Frequent Questions page on the Office of State Revenue website.

Conveyancing Enquiry

For more information on our conveyancing services and quotes on our professional fees, please request a Conveyancing Fees quote. One of our experienced property lawyers will contact you to explore how we can assist you with your property transaction.

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. Ern Phang is the solicitor director of Phang Legal.

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