Westwood Conveyancing

Hi Everyone,

Happy New Year! We hope you had an enjoyable time over the Christmas holidays.

Welcome to the January issue of our newsletter.

The Reserve Bank of Australia does not meet in January due to the holiday period. Therefore, we will not be able to advise you of any cash rate movement until next month.

The First Home-New Home scheme provides exemptions or concessions on transfer duty for people who are buying their first home in NSW. This includes buying vacant land on which they intend to build their first home. The First Home-New Home scheme provides eligible purchasers with exemptions on transfer duty on new homes valued up to $500,000 and concessions on transfer duty for new homes valued between $500,000 and $600,000. Eligible purchasers buying a vacant block of residential land to build their home on will pay no duty on vacant land valued up to $300,000 and will receive a concession on duty for vacant land valued between $300,000 and $450,000. First Home-New Home exemptions or concessions do not apply to the purchase of an existing dwelling any more. The First Home Owners Grant scheme of $7,000 will remain in place.

In this issue we explain what you need to do first if you want to sell your property, what is the meaning of "cooling off" and ten things you should pay attention to when buying an older home. We also show you how self-employed people can get a home loan and all about high-density living on the rise.

Please feel free to contact us about any matter - we are always happy to hear from you and to assist!

Kind regards,

Donna Westwood

Donna Westwood
Licensed Conveyancer, JP
(Licence No. 1555562)

Tel: (02) 9940 4006 | Fax: (02) 9940 3398 | Mob: 0429 912 649
35 Rosamond Street, Hornsby Heights NSW 2077
Westwood Conveyancing | ABN: 68 155 594 602
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DISCLAIMER The information contained in this newsletter is general information only and is based on our interpretation of various topics. It has not been prepared taking into account your specific situation, objectives or needs. You should consider how the information is in anyway appropriate to your own situation before making any decision. You should also seek independent advice from the appropriate professional to assist you with any decision.