Community LiFE
Antique, Jewellery and Collectables Fair, back, bigger and better – June 17–18 Like to collect unique furniture, jewellery, or decorator items? Enjoy browsing for one-of-a-kind curios and collectables? Here’s an event not to be missed! Returning for its 39th year, the annual Zonta Club of Orange Antique, Jewellery and Collectables Fair on June 17–18 is attracting dealers from across Australia, with more stalls and more goodies than ever before. This fair attracts visitors from throughout the Central West and not only gives them the opportunity to shop collections from some of Australia’s top antique and collectable dealers but also raises funds to give back to the local community.
Last year, Zonta donated more than $20,000 to Housing Plus, Orange Family Support Service and other local organisations to help them continue to take care of our homeless people, provide court advocacy, and post-release support and education programs across the community, Zonta Club President, Melanie Meers said. “We were also very happy to contribute towards providing shelter for women and families affected by domestic and family violence and ensure some playgroups and
childcare options were kept running,” she added. But none of this would be possible without the support of the local community coming along and enjoying this annual and familyfriendly event, Melanie said. Back by popular demand is the exclusive ticket-only Preview Night on Friday, June 16, which this year includes a glass of wine, canapes, and live music from the local and Magda Chamber Ensemble. The VIP Preview begins at 5.30pm, with tickets
available via Eventbrite. Or you can take your chances that the best pieces are still available and come along on Saturday, June 17, or Sunday, June 18, with the doors opening at 9.30am. Tickets are $10 per day or $15 for a twoday pass! Children under 12 are free. The Zonta Club of Orange meets at 6.30pm on the first Tuesday of each month at the Orange RSL and welcomes guests and new members with open arms! Check them out on Facebook and Instagram.
Changes to First Home Buyers Duty Exemption The associated costs of purchasing a home go far beyond the marketing price listed on Domain. The final figure can be quite the shock, especially if embarking on the process for the first time. One such cost is Transfer Duty (or Stamp Duty), which can be substantial, depending on the purchase price of the property. Revenue NSW currently provide a number of options for First Home Buyers to assist with alleviating Stamp Duty costs (First Home Buyer Assistance scheme), however these options are about to change (again) on 1 July 2023. Existing duty exemptions and concessions apply for first home buyers on property purchases up to $800,000. However, the brackets are set to expand. From 1 July 2023, the transfer duty exemption threshold will increase from $650,000.00 to $800,000.00 meaning that eligible First Home Buyers purchasing properties up to $800,000.00 will be exempt from paying duty. The concession (discounted stamp duty) threshold will increase from $800,000.00 to $1 million. Further changes relate to the period of time a First Home Buyer must live in the property following settlement, to be eligible for the First Home Buyer Assistance scheme. Prior to 1 July 2023, First Home Buyers have been required to live in the property for a continuous period of 6 months, within the first 12 months of owning the property to fulfil the residence requirements. For Contracts entered into after 1 July 2023, Purchasers will be required to move into the home within 12 months of settlement, and live in the property for a continuous period of 12 months to satisfy the conditions of eligibility.
Anthony Short
Since November 2022, eligible first home buyers have also had the option to ‘opt-in’ to the property tax system (lesser annual property tax payments) as opposed to an upfront transfer duty payment. However, from 1 July 2023, this option will be made redundant. Any first home buyers who have, or expect to, exchange Contracts prior to 1 July 2023 and have ‘opted in’ will continue to pay property tax for the duration of their ownership of the property. For anyone exchanging on a Contract on or after 1 July 2023, this option will no longer be available. In the event you believe you are eligible for the scheme, but are purchasing with others who are not eligible (not applicable to spouses or de facto partners), you are not precluded from applying for the assistance scheme if you are purchasing at least 50% of the property. In the event you are purchasing your first home, or planning to in the future, it is important to seek independent advice to determine your eligibility for first home buyers Revenue assistance and which options are appropriate for your circumstances in this regard. **We note this article focuses primarily on First Home Buyer Stamp Duty Exemption changes and is not a comprehensive analysis of all the various applicable costs of buying a first home.
Bridget O'Kane
This article does not constitute legal advice and provides general information only.
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ORANGE CITY LIFE | JUNE 15 — 21, 2023