🚀All first-time homebuyers who build new homes no longer pay stamp duty.

Today’s email is brought to you by Empower your podcasting vision with a suite of creative solutions at your fingertips.

---

---

Photo by Kara Eads on Unsplash

In the 2024-25 Budget, the Malinauskas Labour Government will abolish stamp duty for first homebuyers who buy or build a new home and extend the First Home Owner Grant to eligible first homebuyers.

The 2024-25 Budget will eliminate property value thresholds for the stamp duty exemption and First Home Owner Grant, costing $30 million over four years, to increase housing supply and home ownership in South Australia.

With the abolition of property value limits, a first homebuyer who purchases a new dwelling broadly in line with the median house price of $750,000 will receive a benefit of over $50,000, including the First Home Owner Grant of $15,000.
 

👉 If you're looking to get up to speed with podcasting in Southeast Asia and around the globe in just five minutes, this is the perfect place for you! Just click here.

SA Primier Peter Malinauskas said
 
We are amid a national housing crisis borne of successive governments failing to do enough to build new homes.
 
In the last budget, we abolished stamp duty for some first homebuyers who build new homes.
 
Now we are making that tax relief available to all of them.
 
Every new home built in our state benefits the rest of the housing market. Every first homebuyer that can move into a new home means one less buyer or renter competing for existing stock.

The stamp duty exemption will be available to all first home buyers who buy a new home (including a house, flat, unit, townhouse or apartment), an off-the-plan apartment, a house and land package or vacant land to build a new home.
 
The initiative builds on the tax relief announced as part of the 2023-24 Budget, which saw the Malinauskas Labor Government abolish stamp duty for first home buyers purchasing a new dwelling up to a property value of $650,000 while also aligning the property value cap for the $15,000 First Home Owner Grant to this limit.
 
First home buyers building a home can also save thousands with a 2 per cent deposit home loan available through HomeStart, a Malinauskas Government election commitment delivered this year.

Nothing is free like a free press. Give now to help sustain independent journalism in your community.

It's evident from recent events that there has never been a better moment to support local news. Donate now to help sustain independent reporting.

Got a News Tip or events?

Contact our editor via Proton Mail encrypted, X Direct Message, LinkedIn, or email. You can securely message him on Signal by using his username, Miko Santos.

More on The Kangaroofern Media Lab

• Get Evening Post Wrap - for nightly bite size news around Australia and the world.

• Podwires Daily - for providing news about audio trends and podcasts.

• Podwires Asia - for reporting on podcasting and audio trends in South East Asia

• There’s a Glitch - A weekly tech news and scam and fraud trends

• Mapanlikha - The world's and Asia's most inventive advertisements and news.

• The Freeman Chronicle Podcast - features expert interviews on current political and social issues in Australia and worldwide.

• That Podcast Exchange - This podcast is an insightful conversation with people at the top of their game and deconstructs them to find the tools, tactics, and tricks to help you achieve your dream goal as Podcast Manager.

The Positively Adelaide readers receive journalism free of financial and political influence.

We set our own news agenda, which is always based on facts rather than billionaire ownership or political pressure. Despite the financial challenges that our industry faces, we have decided to keep our reporting open to the public because we believe that everyone has the right to know the truth about the events that shape their world.

Thanks to the support of our readers, we can continue to provide free reporting. If you can, please choose to support Mencari.

It only takes a minute to help us investigate fearlessly and expose lies and wrongdoing to hold power accountable. Thanks!