First Home Buyer Choice

You may have heard that recently the NSW Government has announced that first home buyers purchasing properties for up to $1.5 million will be able to choose to pay an annual property tax instead of stamp duty.

Stamp duty can be a significant upfront cost for aspiring homeowners. By giving first home buyers the option of paying property tax each year instead of coughing up an upfront stamp duty payment, the NSW government hopes to lower the barriers to entering the property market.

We have provided two examples of how the scheme could work.

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