The New South Wales New Home Grant Scheme was introduced on 1 July 2012 to stimulate the construction of new homes.
The scheme provides a grant of $5,000 towards the purchase of new homes, homes off the plan and vacant land on which a new home will be built. For purchasers (including transferees) to be eligible to receive the grant, the value of the new home must not exceed $650,000 and the value of vacant land must not exceed $450,000.
The payment of the grant will be administered by way of applying the amount of the new home grant as a credit against liability for duty on the agreement or transfer.
We have experts available to assist you with understanding and applying for the grant.
To find out more visit the Office of State Revenue website