From 1 July 2023, the NSW Government has expanded the First Home Buyer Assistance Scheme (FHBAS).
First home buyers in New South Wales are no longer subject to stamp duty on real estate property purchases under $800,000. This is a saving of around $30,000.
There are also concessional stamp duty rates for first home buyers on property purchases up to $1M.
First home buyers have up to 1 year to move in to the property.
Great opportunity for first home buyers in Northern NSW looking to get their foot in the door in the Tweed Heads property market - especially considering Tweed Heads real estate is relatively more affordable than Sydney prices. Comparatively, Queensland's no-stamp-duty threshold is $500,000, and Melbourne's is $600,000.
For more information, visit Revenue NSW