Episode 255: Stamp Duty vs. Land Tax: What are the Implications for FHBs?

The NSW Government has just passed a legislation allowing first homebuyers the opportunity to choose…

Should property purchasers save up another 5% on top of their deposit for stamp duty?

Or commit to an annual land tax bill of a much smaller amount?

In this episode of The Elephant in the Room, Chris and Veronica discuss what the NSW legislation really means for first homebuyers. Should they pay their stamp duty or land tax? What are the pros and cons of both options?

If you enjoyed the show, do like, rate, subscribe, and share us on social media and if you have your own questions you need clarity on, email us at questions@theelephantintheroom.com.au!

See you in the episode!

Episode Highlights:

1. New South Wales’ new tax legislation [1:06]

2. Stamp duty versus land tax: how are they calculated [04:00]

3. How will this impact investors [12:34]

4. Veronica’s Property Dumbo [16:33]

5. The impact on borrowing capacity [21:36]

6. Three groups of buyers impacted by interest rate rises [25:09]

7. Focusing on quality assets rather than panic buying [30:35]

8. Making the right choice [35:04]

Connect with Us:

• Looking for a Sydney Buyers Agent? www.gooddeeds.com.au

• Work with Veronica: https://linktr.ee/veronicamorgan

• Looking for a Mortgage Broker? www.wealthful.com.au

• Work with Chris: hello@wealthful.com.au 

• Send in your questions to: questions@theelephantintheroom.com.au 

If you’ve enjoyed this episode, don’t forget to like, share, rate and subscribe for more!