Stamp Duty Exemption NSW 2023: Save on Your Property Purchase

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Ello
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Are you looking to purchase a property in New South Wales in 2023? If so, you may be eligible for a stamp duty exemption. This could save you thousands of dollars on your property purchase.

Stamp duty is a tax imposed by the state government on certain transactions, including the purchase of property. In New South Wales, stamp duty is calculated based on the purchase price of the property. The amount of stamp duty you pay can vary depending on the type of property you are buying and the value of the property.

In 2023, the New South Wales government is introducing a stamp duty exemption for first home buyers. This means that if you are a first home buyer, you may be eligible for a stamp duty exemption on the purchase of your property.

The stamp duty exemption applies to properties valued up to $800,000. This means that if you are buying a property valued at $800,000 or less, you may be eligible for a stamp duty exemption. The amount of the exemption will depend on the value of the property.

For example, if you are buying a property valued at $500,000, you may be
eligible for a stamp duty exemption of up to $25,000. This could save you
thousands of dollars on your property purchase.

The stamp duty exemption is only available to first home buyers. This means that if you are not a first home buyer, you will not be eligible for the stamp duty exemption.

In addition to the stamp duty exemption, the New South Wales government is also introducing a number of other measures to help first home buyers. These include a grant of up to $10,000 for first home buyers who purchase a new home, and a grant of up to $3,000 for first home buyers who purchase an existing home.

These measures are designed to make it easier for first home buyers to purchase a property in New South Wales. They could save you thousands of dollars on your property purchase.

At Ello Lending, we understand that buying a property can be a daunting process. That’s why we’re here to help. Our team of experienced mortgage brokers can help you to find the right home loan for your needs. We can also help you to understand the stamp duty exemption and other measures available to first home
buyers in New South Wales.

If you have any questions about the stamp duty exemption or other measures available to first home buyers in New South Wales, please don’t hesitate to get in touch. Our team at Ello Lending would be more than happy to answer any questions you have and help you to get a home loan.

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