Hundreds benefit from first Home Owner Stamp Duty discount
More than 300 Territorians have utilised the Northern Territory Government’s First Home Owner Stamp Duty discount.
Introduced last year, the scheme provides an almost $24,000 stamp duty discount for first home buyers of an established home plus a further $10 000 renovation grant of which $2000 can be spent on household goods.
Those wanting to buy or build a new property as their first home can apply for the first home owner grant of up to $26,000 and may be eligible for a grant of up to $2000 to assist with the cost of household goods.
To ensure there is maximum benefit for the Territory, local businesses need to be used for the renovations and the purchase of household goods. So far, more than $2 million in work has been generated from the Home Renovation Grants.