Stamp Duty exemptions and concessions

Seniors

Seniors over the age of 65 who buy a newly constructed home worth up to $600,00 are also exempt from stamp duty regardless of whether they are buying off the plan or not.

Property Settlements under the Family Law Act and Property (Relationships) Act

Where a property settlement takes place after the break down of a relationship which requires the transfer of property from one partner to the other, then a excemption from stamp duty will apply provided certain legal requirements have been met.  The legal requirements include the preparation of Court Consent Orders or a legally binding Financial Agreement.  Contact us for further advice.

Mortgage duty

Duty on mortgages for owner occupied housing was abolished on 1 September 2007.  Mortgage duty will not be chargeable if the mortgage secures an advance or advances made for the purpose of owner occupied housing and no other advances. Borrowers cannot be a company or body corporate.

Duty on mortgages for investment housing was abolished on 1 July 2008.  Mortgage duty is not chargeable if the mortgage secures an advance or advances made for the purpose of investment housing and no other advances. Borrowers Borrowers cannot be a company or body corporate.

All Mortgage duty in NSW will be abolished on 1 July 2012.

Buying a property
Stamp Duty guide

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