As cost of living pressures rise around the nation, we are working hard to help make New South Wales more affordable.
Helping first home buyers
The rising cost of housing is an ongoing challenge. To help ease the burden, we are implementing a comprehensive strategy that boosts the supply of reasonably priced housing, helps first home buyers get into the market, and accelerates the delivery of local infrastructure to support growing communities. From 1 July 2017, transfer duty will be abolished for first home buyers on new and existing homes up to $650,000, and reduced for properties between $650,000 and $800,000. First home buyers will also be eligible for $10,000 grants for new homes up to $600,000, and we will abolish insurance duty on lenders’ mortgage insurance altogether. We will also introduce a First Home Builder Grant of $10,000 for people who build their first home on vacant land and, where the total value of the house and land does not exceed $750,000.
Helping kids get active
We understand that sport registration and lesson fees can represent a real cost pressure for families, so the NSW Government is investing $207 million over four years through the Active Kids Rebate.
Families in NSW will be eligible to receive up to $100 per child in school each year, to help meet the cost of getting kids involved in community sport.
Helping families with young children
We are helping families meet the cost of early childhood education, investing an additional $217.3 million over four years to continue the Government’s commitment to the Start Strong program to 2021, providing every child with the opportunity to access 600 hours of early childhood education in the year before they start school, and assisting disadvantaged three-year olds.
Helping with vehicle expenses
We are also easing the burden on families through reform of the CTP Green Slip scheme. This will reduce the average price of a Green Slip by more than $100, as well as reduce the time it takes to resolve a claim. The new scheme will begin in December 2017.