Friday, June 01, 2007
Come to NSW - next the Parliament wants to allow three generation mortgages!
First home plus one (NSW) introduced
The Duties Amendment (First Home Plus One) Bill 2007 has been introduced into the NSW Parliament to extend a duty and land tax concession to first home owners who purchase their first home under a shared equity arrangement with a person who is not a first home owner.
• amends the Duties Act 1997 (NSW) to extend the First Home Plus scheme to first home owners who purchase their home under a shared equity arrangement (the concession is called "First Home Plus One") if the first home owner acquires at least a 50% share in the ownership of the property concerned.