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Learn more about becoming a shared equity partner approved by the Chief Commissioner of State Revenue, to support home buyers in purchasing property in NSW.
Learn about the Revenue NSW approved shared equity schemes where approved equity partners can help home buyers to purchase a property in NSW.
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Currently there are no shared equity schemes that have been approved by the Chief Commissioner of State Revenue.
Approved shared equity scheme overview
An approved shared equity scheme allows an approved equity partner to help make buying a home more affordable for homebuyers.
The homebuyer must own at least 20% of the property, and the equity partner helps cover part of the purchase cost. The equity partner shares in any increase or decrease in the property's value, but they cannot live in the home themselves.
If the homebuyer is purchasing their first home, this does not impact their eligibility for first home buyer government benefits.
How does it work?
To be eligible for the scheme:
The equity partner must have approval from the Chief Commissioner of State Revenue to participate in an approved shared equity scheme, and
The home buyer and the approved equity partner must enter into a formal agreement outlining each party’s rights and responsibilities.
The role of the shared equity partner
The equity partner contributes financially and owns a share of the property but does not have the right to live in it. Their financial return depends on the property's value when it is sold or when the home owner buys more of the property.
When you buy a property or someone transfers ownership of a property to you in NSW, you must pay transfer duty (previously known as stamp duty) unless an exemption or concession applies.
Transfer duty is calculated on the sale price or the current market value (whichever is higher) of the whole property.
Surcharge purchaser duty will also be payable if any purchaser (including the approved equity partner) is a foreign person.
The home buyer may qualify for transfer duty exemptions when buying more of the property.
Protections for home buyers under shared equity schemes
Approved shared equity schemes must have important protections for buyers including:
Staircasing: Home buyers can buy more of the property over time until they fully own the property.
Selling: Home buyers can sell the home at any time, with fair rules protecting the home buyers’ and equity partner’s interests.
Right to Live: Home buyers can live in the home indefinitely.
Fair Agreements: The rules must be reasonable and protect the home buyers from unfair treatment.
Changing Partners: If the equity partner transfers their share, it cannot negatively affect the home buyers.
Problem Resolution: There are fair processes to resolve disagreements or issues.
Any arrangement between the home buyer and the approved shared equity partner must meet the requirements set out in the Shared Equity Schemes Treasurers Guidelines and be formally approved by the Chief Commissioner of State Revenue.
