If you’re planning to downsize, will you get a stamp duty concession on your new home?
Sandra is considering downsizing but is struggling to find the correct information on whether she will receive a concession on stamp duty.
I enjoyed your recent article on downsizing, but I’ve been unable to find a site that will give me the correct information on whether or not I will receive a concession on stamp duty in NSW. Are you able to advise?
Stamp duty concessions vary between states, with some offering none and others offering concessions only on newly built homes. Currently NSW does not offer pensioner concessions on stamp duty, only first homeowner concessions on new homes. There is, however, the New Home Grant Scheme where you can receive $5000 towards the purchase of a newly built home, off-the-plan purchase or the purchase of land on which a home will be built. There are certain eligibility criteria for such a grant.
To find out which concessions are available in each state, click on the relevant link below: