Oliver Myers Real Estate
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Address: Suite 301, Level 3, Imperial Shopping Centre
171 Mann Street, Gosford, NSW 2250
Financial Benefits from Buying New Homes #2 - Stamp Duty Savings

Financial Benefits from Buying New Homes #2 - Stamp Duty Savings

  • 25 Sep 2017

Welcome to the second in a series of 3 articles about the financial benefits of buying new homes off the plan.

 

Stamp Duty Savings

 

Stamp Duty is now called 'Transfer of land or business duty'. In real estate terms, this is a duty that you pay on the sale or transfer of land, including improvements in NSW.

 

This means that if you purchase real estate under one contract for the land and the improvement on that land (the house), you will pay duty on the total purchase price.

 

If you purchase a new home where the vacant land is sold under one contract and there is a separate building contract for the construction, you only pay duty on the land value.

 

Here is an example of how this could affect you:

 

For the same purchase price of $578,000 you would save $16,430 in duty. You can calculate this for yourself on the Revenue NSW site: https://www.apps08.osr.nsw.gov.au/erevenue/calculators/landsalesimple.php

 

As an investor looking for a good return on your investment, buying off the plan already puts you ahead.

 

*Note: there are even more savings for eligible first home buyers. Contact us for details.

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Oliver Myers Real Estate Gosford is a long standing and well established leading Central Coast Business serving the real estate needs of an ever growing population in an highly efficient and customer focused manner.
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West Gosford

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I've tried to read other real estate books and they are all really large and hard going.

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It's the best real estate book I've ever read.

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Terrigal

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Editor at Central Coast Business Review

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The team from Oliver Myers Real Estate have gone above and beyond expectations to help me. They gave more than 100% effort to work with me to help me find my dream home. I cannot fault their service and would certainly recommend them to my friends and family.

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Lambton NSW