Good News for Senior’s and Stamp Duty Exemption on New Home Purchases.

The NSW Government has extended the Senior’s Principal Place of Residence Duty Exemption under the NSW Home Builders Bonus Scheme to persons between 55 and 65 years of age. The previous age limit was 65 and over.

The exemption from stamp duty for is for NEW housing purchases only (eg houses that have never previously been lived in).

The exemption will be available to buyers in that age range for purchases with exchange of Contracts on or after 1 July 2011 and before 1 July 2012.

There is a fact sheet available at http://www.osr.nsw.gov.au/lib/doc/factsheets/ofs_hbb1.pdf