The NSW Treasurer’s recent announcement regarding stamp duty has created confusion for buyers. According to the Real Estate Institute of NSW, they received further clarity around the Stamp Duty plans from the minister’s office on May 7. The message from the minister’s office reads as follows:
“At this time, it is a proposal only and will need to be subject to extensive public and industry consultation before it would be progressed to a point of announcing a firm proposal or start date.
In short, it is not something that will occur in the near term or something that people who are currently potentially purchasers or vendors should factor into their decision-making.”
We hope this provides some clarity and in the meantime please feel free to get in touch for any further information.