The NSW Government has advised that from 1 July 2019, stamp duty brackets will be indexed to the Consumer Price Index (CPI) allowing home buyers to put more money towards a deposit.
Over the past 15 years, the average rate of stamp duty rose from 3.37 per cent to 4.05 per cent. During this time, the median Sydney house price rose from $400,000 to $1 million. The new changes ensure that the tax on housing does not continue to grow.
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