NT Duty – Budget Bill: Stamp Duty Amendment (First Home Owner Discount) Bill 2016 – receives Assent giving a 50% duty discount (capped at $10k) for first home buyers

The Stamp Duty Amendment (First Home Owner Discount) Bill 2016 (NT) on 13 July 2016 received Assent as Act No 31 of 2016.

It had passed all stages of the NT Parliament without amendment and implements the NT Budget 2016-17 proposal to introduce a 50% stamp duty discount for first home buyers on the purchase of an established home. The discount will be capped at $10,000. It will apply to contracts entered into on or after 24 May 2016 until 30 June 2017.

[NT website] [LTN 140, 22/7/16]