Real Estate Agents in Australia March 2012 30
Industry Assistance continued
The New South Wales government in 2009 introduced an ‘empty nester’ stamp duty concessions, exempting stamp duty for residents over 65 when they purchase a newly constructed home worth up to $600,000 after selling their primary place of residence. This was done to
create downsizing opportunities and to encourage new home construction and was scheduled to end in 1 July 2011. The incoming government, however, has elected to extend the concessions for an extra year and broaden eligibility to people over 55.