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Home buyers' stamp duty surprise NSW Treasurer Eric Roozendaal. NSW Treasurer Eric Roozendaal. Photo: Peter Rae Andrew Clennell June 16, 2009 - 1:29PM Page 1 of 2 Single page view The Rees government will provide a $64 million boost to people buying new homes, cutting their stamp duty by half - as the only surprise giveaway in a budget with a 2009-10 deficit of $990 million. ----------------------------------------------------------------------------------- · ANALYSIS: Ross Gittins · FULL COVERAGE ----------------------------------------------------------------------------------- People buying newly constructed homes worth under $600,000 who are not first home owners will pay 50 per cent less stamp duty - a saving of up to $11,245, the Treasurer Eric Roozendaal announced. But the giveaway is likely to provide only a blip in the property market as it will be axed on December 31. First home owners already pay no stamp duty on properties under $500,000 in price. Mr Roozendaal described the measure as a "kickstart for the housing construction industry that will support employment in every part of the state". He said his document was a "budget to give hope". |
