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Stamp Duty Savings for First Home Buyers take effect from July 1, 2017!

By Nicole Miller

Buying your first home is getting harder. House prices are rising and the upfront costs – a deposit, stamp duty and fees – can be a huge hurdle.

To help first home buyers, the government is completely abolishing stamp duty for both new and existing properties under $600,000. First home buyers purchasing a property between $600,000 and $750,000 will also receive a tapered discount.

With an average saving of around $8,000, it will give first home buyers an advantage, and more money to put towards the purchase of their home.

This measure will help more than 25,000 people each year at a time when they need it most.

It’s all about putting first home buyers on a level playing field with investors.

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