Listen

Housing construction acceleration path

The NSW Housing Construction Acceleration Plan (HCAP):

  • offered a 50% reduction on transfer duty if bought a new home and you were not a first home buyer
  • was available for homes valued at less than $600,000 at the time of purchase
  • applied to purchases made before 30 June 2010.

Eligibility

To qualify for the HCAP:

  • the purchase date must have been between 1 July 2009 and 31 May 2010
  • you must have purchased the whole property.

  • newly constructed homes
  • homes bought off-the-plan and completed by 31 December 2011
  • substantially renovated homes
  • vacant land that you built your home on.
  • you were eligible for the First Home Plus scheme or First Home Owner Grant as a first home buyer
  • you or another purchaser had previously received assistance under the First Home Owner Grant
  • your agreement or transfer replaced one made before 1 July 2009 for substantially the same property
  • your new home has been used for any purpose other than residential.

Transfer duty concession

The table below shows you how much transfer duty you’d pay under the HCAP, depending on your purchase price.

Purchase price Usual transfer duty Reduced transfer duty
$250,000 $7,240 $3,620
$300,000 $8,990 $4,495
$350,000 $11,240 $5,620
$400,000 $13,490 $6,745
$450,000 $15,740 $7,870
$500,000 $17,990 $8,995
$550,000 $20,240 $10,120
$600,000 $22,490 $11,245

Combining multiple purchases

There was no limit to the number of new homes under the HCAP but if you bought multiple properties between 1 July 2009 and 31 May 2010 and owed transfer duty in one lump sum, the 50% reduction only applied on the amount of duty owed for eligible properties.

Applying for the HCAP

If you still qualify for the HCAP and would like to apply:

  • download and complete a HCAP - Application for Reduction in Duty (ODA 055) and
  • for homes bought off the plan complete a Declaration for 'Off the Plan' Purchases form (ODA 014).

Each buyer needs to complete a separate form.

Contact us

Contact us for more information on the HCAP and how to apply.