In the NSW Budget handed down by the NSW State Government, plans were announced to make some transfer duty optional. The scope of the proposal is quite limited at this stage, but if passed, it would become effective from January 2023.
NSW landowners that applied for Covid-19 land tax relief must amend their application by 30 April 2022 if their circumstances change following rent negotiations.
The maximum amount that individuals can take out of their superannuation under the First Home Super Saver Scheme (FHSS) will be increased to $50,000 for any release requests made on or after 1 July 2022.
Retirees who own their own home and need more money in retirement can now access the Home Equity Access Scheme, run through Services Australia.
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