Central Park

NSW Home Builders Bonus

The NSW Government’s Home Builders Bonus provides full exemption on stamp duty for new homes or apartments where the value does not exceed $600,000 and building has not commenced. This is a saving of up to $22,490.

For houses and apartments already under construction stamp duty is reduced by 25 per cent.

• The NSW Home Builders Bonus is available to everyone, including investors, who purchase a new house or apartment.
• There is no limit on the number of properties which may be purchased with this Bonus.
• The Bonus is available to Australian and foreign purchasers.

The Bonus commenced on 1 July 2010 and will end on 1 July 2012, so the opportunity to enjoy this benefit is fast running out.

How does this apply at Central Park?

PARK LANE: This 100% stamp duty exemption currently applies to '8 Park Lane' at Central Park, as construction of Park Lane's taller tower has not reached the first residential level. Park Lane is comprised of two buildings, which are on slightly different construction timelines. 1, 3 and 5 Park Lane reached its first residential level in late March. 8 Park Lane will reach the first residential level on 2 May.

If you're considering a property purchase at 8 Park Lane, act now to ensure you receive the stamp duty exemption in full.

As construction has reached the first residential level of 1, 3 and 5 Park Lane, the benefit has changed to a 25% discount on stamp duty, applicable until the benefit ends on 30 June 2012.

Once construction reaches the first residential level of 8 Park Lane, on 2 May 2012, the benefit will change to a 25% discount on stamp duty, applicable until the benefit ends on 30 June 2012.

THE MARK: The Mark is the forthcoming third residential release at Central Park, with private sales to commence mid-May.

The 100% stamp duty exemption will apply to properties under $600,000 at The Mark, as construction of The Mark has not reached the first residential level. Once The Mark is released for sale mid-May, the stamp duty benefit will be available until the scheme ends on 1 July.

ONE CENTRAL PARK: As One Central Park is well under construction, the NSW Home Builders Bonus provides for a 25% discount on stamp duty for properties priced under $600,000. However, as at 10 February 2012, there are no such properties remaining at One Central Park.

For further information on the NSW Home Builders Bonus, visit the NSW Office of State Revenue's web site.
To calculate the stamp duty payable on your purchase, visit the calculator.