Duties Amendment (Senior’s Principal Place of Residence Duty Exemption) Bill 2011

Overview of Bill

The object of this Bill is to extend the senior’s principal place of residence duty exemption under the NSW Home Builders Bonus to persons between 55 and 65 years of age. This exemption from duty for new housing purchases is to be made available to persons in that age range in respect of agreements or transfers entered into or occurring on or after 1 July 2011 and before 1 July  012. Currently, the exemption is only available to persons who are 65 years of age or older.