First Home Buyer's Choice: A choice between upfront stamp duty or an annual property tax

The NSW Government is providing first home buyers purchasing a new or existing home for up to $1.5 million the choice to either pay the existing upfront stamp duty or an annual property tax.

First home buyer Source: Getty

A first home buyer purchasing vacant land on which they intend to build a home for up to $800,000 will also have the choice of either stamp duty or an annual property tax.

Existing first home buyer stamp duty exemptions and concessions for purchases under $800,000 will continue to apply.

Read more here.