The new plans will mean that if Labor is elected, within the first three years of the changes thousands of first-home buyers would have paid no stamp duty at all. 9News
Opposition Leader Chris Minns has vowed to abolish stamp duty for almost all of first-home owners within the state if Labor is elected in the upcoming March election.
The figures, modelled by the Parliamentary Budget Office, equate to roughly 95 per cent of all first-home buyers in NSW. Minns pledged not to "saddle first home buyers" with a "new, yearly tax bill that increases every year", labellingBut sitting NSW Treasurer Matt Kean said Minns' announcement was a "kick in the guts" for buyers planning to purchase homes worth over a million.Treasurer Matt Kean at a press conference announcing new measures for first home buyers on 21 July, 2022.
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