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Home Builders Bonus

NSW Home Builders Bonus Applies to new homes not exceeding $600 000 Applies to vacant land not exceeding $400 000. The NSW Home Builders Bonus (HBB) has been introduced to stimulate the construction of new homes in NSW. HBB provides exemptions and concessions for certain purchases of new homes, homes off the plan and vacant land on which a new home will be built (New Housing Concession).

HBB also provides a specific exemption for eligible seniors purchasing a new home as their principal place of residence(Seniors Principal Place of Residence Duty Exemption).

The New Housing Concession provides a full exemption on transactions relating to vacant land and off the plan purchases where building has not commenced. A partial concession of 25 per cent of duty payable applies to completed new homes or off the plan purchases where construction has commenced. There is no limit to the number of new homes a person may purchase under this concession.

The Senior’s Principal Place of Residence Duty Exemption provides a full exemption for eligible seniors purchasing a new home that is to be occupied as their principal place of residence. Applicants must be 65 years of age or older (or, from 1 July 2011, 55 years of age or older) and selling their current residence.

To be eligible for HBB the value of land must not exceed $400,000 and new homes must not exceed $600,000.

Facts Sheet