NSW Labor counters Perrottet’s land tax with vow to scrap stamp duty for some first home buyers

Properties worth up to $800,000 will incur no tax and a concession rate will apply to those up to $1m if opposition wins election, Chris Minns says

New South Wales Labor has pledged to eliminate stamp duty for first home buyers purchasing properties worth up to $800,000 if it wins the March state election, in a bid to counter the Perrottet government’s recent tax reforms.

Labor’s proposal, announced on Monday, would also apply a concession rate to homebuyers paying between $800,000 and $1m for their first property.

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