New Home Grant scheme off the plan purchases

For agreements or transfers entered into on or before 30 June 2014

A $5,000 grant is available to the purchaser(s) of new homes with a value up to $650,000, whether off the plan or newly built, and to the purchaser(s) of vacant land, that is intended to be the site of a new home, with a value up to $450,000.

All New Home Grant (NHG) applications including off the plan purchases must be processed within 3 months of the date of first execution of the agreement even though the duty payable may not be available to you at the time of processing.

You can lodge your NHG application for an off the plan purchase (and documents), with payment, to us for processing or you can have it processed through Electronic Duties Return (EDR).

Where a NHG application for an off the plan purchase is lodged with us, without payment, we will assess the duty payable and return to you the unstamped agreement for sale (and transfer) together with a Duties Notice of Assessment (Duties Notice includes a Duties NOA, a (EDR) Duties NOA and a (EDR) Duties Statement). EDR has been enhanced to accommodate the processing of all NHG applications for off the plan purchases, whether you are in receipt of the duty at the time of processing or not. Where a NHG application for an off the plan purchase is processed on EDR, without payment, you will receive a Duties Notice of Assessment and Duties Statement (Notice and Statement) for the duty payable on the agreement for sale (and duplicate). The Notice you receive will have a payment slip attached. You are not able to include a transfer as part of the transaction (refer to Processing New Home Grant Transactions on EDR – June 2013).

A transfer in conformity (section 18(2)) can be processed once the duty payable on the agreement for sale is paid or made available to you.

Note: A transfer not in conformity (section 18(3)) and a transfer made in partial conformity (section 64C) pursuant to a NHG agreement for sale are not to be processed on EDR and must be lodged with us.

Completing a New Home Grant off the plan purchase

Whether your NHG application for an off the plan purchase has been processed by us or on EDR, the duty payable must be paid on completion of the agreement for sale, the assignment of the whole or any part of the purchaser’s interest under the agreement for sale or by the due date specified on the Duties/EDR Notice of Assessment, whichever first occurs.

To finalise the stamping of a NHG off the plan purchase agreement for sale and transfer, where the duty payable was not available at the time of processing the agreement for sale, you will be required to use 1 of the following options:

Option 1: Lodge with us

If you are receiving payment prior to settlement, you can lodge these matters with us together with the following:

  • Duties Notice of Assessment
  • Notice payment slip (if processed through EDR)
  • Original agreement for sale of land
  • Original transfer
  • Client Identification
  • Total duty payable (including $10 for the transfer).

We will stamp the documents and return them to you, together with a receipt for payment.

Option 2: Process on EDR prior to attending settlement

If you are receiving payment at settlement and you or your agent elect to process the transfer on EDR prior to attending settlement, the following process must be followed:

  • process a transfer in conformity (section 18(2)) – client identification will be required

  • duty of $10 will be payable as part of the weekly invoice

  • there is a new transfer type field which must be completed, by selecting NHG, to indicate the transfer is made in conformity with an agreement for sale which has received the benefit of the NHG

  • you will be required to enter the Revenue NSW reference (application id/transaction number) that the agreement for sale was processed under (refer to the Duties/EDR Notice of Assessment)

  • stamp the transfer but do not complete the stamping details (refer to EDR Settlement Policy)

  • attend settlement and take with you the original agreement for sale of land, transfer (if in your possession) and Notice for the transfer and the agreement for sale

  • when the duty payable for the agreement for sale (and duplicate) is made available to you or your agent, complete the stamping details on the transfer with the information provided on the Notice

  • retain a photocopy of the stamped transfer for your records

  • to complete the stamping of the agreement for sale of land, select one of the following options (as applicable):

    • where the NHG off the plan purchase application was processed through EDR by you, then you or an officer representing your firm must complete the stamping details on the agreement for sale according to the stamping details on your Statement. Once stamping is complete, the payment for duty must be sent to us using the payment slip on the original Notice where the NHG off the plan purchase application was processed through EDR by a firm other than your own, that firm or an officer representing that firm must complete the stamping details on the agreement for sale according to their Notice. Once stamping is complete the payment for duty must be sent to us using the payment slip on the original Notice.

    • where the NHG off the plan purchase application was processed by us the payment for duty together with a copy of the Notices, the original agreement for sale and a copy of the stamped transfer must be sent to us to finalise the matter and return the stamped agreement for sale to you.

Option 3: Process at an Revenue NSW-approved settlement room

If you are receiving payment at settlement and you or your agent elect to have the transfer processed by an Revenue NSW approved settlement room, the following process must be followed:

  • attend an Revenue NSW approved settlement room with the Notice for the agreement for sale (and duplicate) together with the original agreement for sale and the transfer

  • the Revenue NSW approved settlement room will process a transfer in conformity (section 18(2)) and stamp the transfer – client identification will be required

  • duty of $10 must be provided to the settlement room

  • retain a photocopy of the stamped transfer for your records

  • when the duty payable for the agreement for sale (and duplicate) is made available to you or your agent to complete the stamping of the agreement for sale of land, select one of the following options (as applicable):

    • where the NHG off the plan purchase application was processed through EDR by you, then you or an officer representing your firm must complete the stamping details on the agreement for sale according to the stamping details on your Notice. Once stamping is complete the payment for duty must be sent to us using the payment slip on the original Notice

    • where the NHG off the plan purchase application was processed through EDR by a firm other than your own, that firm or an officer representing that firm must complete the stamping details on the agreement for sale according to their Notice. Once stamping is complete the payment for duty must be sent to us using the payment slip on the original Notice where the NHG off the plan purchase application was processed by us the payment for duty together with a copy of the Notices, the original agreement for sale and a copy of the stamped transfer must be sent to us who will finalise the matter and return the stamped agreement for sale to you.

For more information on new home grant, contact us.

Phone
1300 139 814*
8.30am - 5.00pm Monday to Friday
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Last updated: 5 March 2018