The threshold above which stamp duty is charged on new homes for first home buyers will increase from $650,000 to $800,000, and from $350,000 to $400,000 for vacant land. However, the changes will only apply to newly-built homes and vacant land, not existing homes, and will only last for 12 months starting on 1 August 2020.
At long last, the Land and Environment Court has handed down a judgement dealing with the process and finalisation of the Collective Sale of a Strata Plan. This landmark decision was in the matter of the application by the Owners – Strata Plan No 61299  NSWLEC 111 and the decision by handed down by Payne, J. Just Conveyancing and Continue Reading
NSW State Budget 2017 As a result of the NSW Budget announced this week, significant changes to laws affecting NSW property buyers and owners will be introduced, most commencing 1 July 2017, including: First Home Buyers The First Home New Home scheme will be replaced by the First Home Buyers Assistance scheme, thereby extending assistance to first home buyers of Continue Reading
Significant changes to the Strata Schemes Management and Strata Schemes Development legislation in New South Wales commenced in July 2016. The changes include: 1. Strata Renewal – The legislation introduces a new process to allow for consideration and approval by owners corporations of proposals for the collective sale or redevelopment of strata title properties. 2. Developers – Developers of those Continue Reading