NSW Government changes to Stamp Duty to tackle housing affordability

Reiko Reynolds    01 Jun 2017

On 1 June 2017, the NSW Government announced various changes to the Stamp Duty to improve housing affordability.

The effect of the changes is that for any contracts dated on or after 1 July 2017:

  • No Stamp Duty is payable on homes up to $650,000;
  • Concessions on Stamp Duty apply to all homes up to $800,000;
  • $10,000 grant is available for builders of new homes up to $750,000 and purchasers of new homes up to $600,000;     
  • Insurance Duty on Lender’s Mortgage Insurance is no longer payable;
  • Foreign investors are to pay higher duties and land taxes;
  • Investors are no longer allowed to defer paying stamp duty on off-the-plan purchases (purchasers who are buying a home as a primary place of residence off-the-plan will be still entitled to a 12-month delay in the payment of the stamp duty).

Key Contacts

Reiko Reynolds

Reiko Reynolds

Senior Associate

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