News & Updates
First Home Buyers Assistance Scheme
From 1 July 2017, the First Home Buyers Assistance Scheme commenced in NSW.
The First Home Buyers Assistance scheme is a NSW Government initiative which provides exemptions or concessions on transfer duty for eligible NSW first home buyers. This includes vacant land on which you intend to build your first home.
To qualify for First Home Buyers Assistance, you must meet the following criteria:
- The contract and the transfer must be for the purchase of the whole of the property.
- All purchasers must be ‘eligible purchasers’.
- An ‘eligible purchaser’ is a natural person (i.e. not a company or trust) at least 18 years of age who has not, and whose spouse/de facto has not:
- at any time owned (either solely or with someone else) residential property in Australia other than property owned solely as trustee or executor
- previously received an exemption or concession under First Home—New Home.
- At least 1 eligible purchaser must occupy the home as their principal place of residence for a continuous period of 6 months, commencing within 12 months of completion of the agreement. (Where an eligible purchaser was a member of the permanent forces of the Australian Defence Force and all purchasers were enrolled on the NSW electoral roll, as at the transaction date, then all purchasers are exempt from the residence requirement).
For more information, see the First Home Buyers Assistance Scheme
NSW Swimming Pool legislation
DO YOU HAVE A SWIMMING POOL ON YOUR PROPERTY?? IF SO, THERE ARE SOME IMPORTANT CHANGES TO NSW SWIMMING POOL LAWS THAT YOU NEED TO BE AWARE OF! PLEASE READ ON FOR MORE DETAILS:
There have been some changes to the swimming pool compliance laws. From 29 April 2016, if you have a swimming pool at your property then you will be required to obtain a swimming pool compliance certificate from council for inclusion in your contract prior to selling.
ALL pool owners are required to register their pool in the online register. A $220 penalty will apply to anyone failing to register their pool. The web address for the register will be: www.swimmingpoolregister.nsw.gov.au
When registering your pool, pool owners will be required to self‐assess and state that, to the best of their knowledge, their pool complies with the Australian standards. For further information see the checklists on the register site: http://www.swimmingpoolregister.nsw.gov.au/checklists. On that page there are links to self assessment checklists.
You will then need to contact local council to have them assess the pool and provide you with a swimming pool compliance certificate. This process could take several months to complete, so we suggest that you contact council as soon as possible.
NSW First Home Owner Grant (New Homes) scheme
From 1 January 2016, the First Home Owner Grant (New Homes) Scheme is $10,000.
First home owners who purchase or build a new home where the eligible transaction commencement date (contract date) is on or after 1 January 2016 will be eligible for the $10,000 grant.
From 1 July 2017, the First Home Owner Grant Cap for new home purchases is $600,000; for a property where you enter into a contract to build, or are an owner builder the total value cannot exceed $750,000.
For more information, see the First Home Owners Grant Scheme.