Homebuyer relief scheme begins

Treasurer Matt Kean said interest in First Home Buyer Choice was strong with more than 56,000 calculations made online comparing the smaller annual fee to upfront stamp duty.

“Eligible first home buyers can now opt out of stamp duty in favour of a smaller annual fee while those who have bought since November 11, 2022 can get a refund of stamp duty within 10 business days and pay the annual fee instead,” Mr Kean said.

“This new choice is empowering first home buyers to get a foot on the property ladder.

“This important reform means 97 per cent of first home buyers will get a leg up under the Liberal National Government’s policies, allowing them to buy the type of home they want, where they want to live.”

First home buyers can get more information and calculate their options at https://www.nsw.gov.au/initiative/first-home-buyer-choice.

First home buyers who have bought since November 11 and was to opt in can apply at https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer/first-home-buyer-choice#apply.