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Liz Sciacca-Witt
Licensee / Principal at
Key2 Conveyancing
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News - Keeping you updated

We like to keep all our clients as up to date as possible, with changes in legislation that will affect your property transfer.

MORTGAGE DUTY ABOLISHED

On 1 July 2016 mortgage duty was abolished is NSW.
Duty is not payable on mortgages sign on or after 1 July 2016.
This is great news as it means more savings when you borrow money to purchase property for eg.
On a loan of $300,000 prior to 1 July 2016 - stamp duty of $1141.00 would have been payable - What a great saving and incentive when borrowing money to purchase property.



New Home Grant Scheme

Commencing 1 July 2012 a new grant of $5,000.00 is available for the purchase of new homes – off the plan of newly built – where the value of the home does not exceed $650,000 or the value of the land upon which the new home is to be built, does not exceed $450,000.00.
For more information contact us at Key2 Conveyancing on 1800 065 249 or via email: Key2 Conveyancing.com.au; alternatively log on to the Office of State Revenue website

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