Grants Information
See below for information regarding three of the most common government grants associated with buying property in New South Wales.
Part of our service here at Morelaw Solicitors is to complete and process all applications for government grants that you may be eligible for when purchasing your new home.
Please contact Damien O'Brien on damien@morelaw.com.au for any of your conveyancing queries.
First Home Benefits
Buying your first home? The New South Wales Government is offering various grants for first home buyers. First home benefits of up to $24,990 are available including;
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$7,000 First Home Owner Grant
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Duty exemption of up to $17,990 under the First Home Plus Scheme.
The First Home Owner Grant is available to first time buyers regardless of income or the area in which they are buying.
The First Home Plus Scheme allows for concessions and exemptions on transfer duty for first home buyers.
Think this might apply to you? Contact Morelaw Solicitors on 02 4960 0166 for more information. Alternatively, further information can be found by following the below links to the Office of State Revenue website;
Regional Relocation Grant
Moving from the city to a rural area? The Office of State Revenue is offering a grant of $7,000 to home buyers relocating to the country. This scheme is known as the Regional Relocation Grant. However, the scheme expires in 2015.
Not sure if you will qualify for the grant? Newcastle is one of the local government areas classified as ‘metropolitan’ for the purposes of the grant. Local areas which are classed as ‘regional’ include Lake Macquarie, Maitland and Cessnock as well as many others.
Contact our staff at Morelaw Solicitors on 02 4960 0166 to find out if you are eligible for this grant. Otherwise, the Office of State Revenue webiste is another great source of reliable information on the Regional Relocation Grant.
Home Builders Bonus
Buying a new home or vacant land? The Home Builders Bonus provides exemptions for some purchases of new homes, homes off the plan and vacant land on which a new home will be built. A new home is defined as a home that has not previously been occupied or sold as a place of residence. It includes a home that has been subject to substantial renovations.
This exemption will also provide for a specific concession for eligible seniors who are purchasing a new home as a principle place of residence. The Senior’s Principal Place of Residence Duty Exemption will apply to agreements for sale or transfer where the property is a completed new home or an off the plan purchase where construction has begun.
This scheme is due to expire in July 2012.
Our staff at Morelaw Solicitors would be happy to discuss this bonus with you on 02 4960 0166. Otherwise, see the Office of State Revenue website for more information on the Home Builders Bonus.
Please contact Damien O'Brien on damien@morelaw.com.au for any of your conveyancing queries.
Part of our service here at Morelaw Solicitors is to complete and process all applications for government grants that you may be eligible for when purchasing your new home. If you believe you may be eligible for any of the above grants please contact one of our experienced staff for more information.
You can always visit the Office of State Revenue website to view more information regarding buying and selling property in New South Wales.
The above information is current to September 2011.
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