Scot MacDonald MLC, Parliamentary Secretary for the Hunter
Nearly three families or individuals claim the First Home Buyer stamp duty exemption every day in the Maitland region.
NSW Treasury figures show 351 exemptions were claimed in the four months from July to October this year. That compares to 330 for the twelve months from July 2016 to June 2017.
At this rate there will be around a threefold increase in home owners claiming the exemption. It follows the NSW Liberal Government raising the threshold on the 1st July for the exemption to homes valued up to $650,000 for first time home owners.
Your State Government has been able to support new entrants into the housing market because we paid off Labor’s $40billion debt and restored the Budget to a sustainable position.
Living within your means is hard for families and governments. We must never forget the financial disaster ALP left this State in. It should come as no surprise the Labor MP in Maitland has attempted to block sound financial management at every opportunity.
The stamp duty exemption for home buyers represents a saving of about $20,000 for a first home in Maitland. When Labor wins in Maitland, families lose.