NSW Property Tax

The retired alternative-to-stamp-duty annual property tax — scrapped for new buyers from 1 July 2024.

The NSW Property Tax was an opt-in annual property tax (instead of upfront stamp duty) available to first home buyers from January 2023 to June 2024 under the First Home Buyer Choice scheme. The scheme was abolished from 1 July 2024. Buyers who opted in before then keep the annual tax for as long as they own the property. New first home buyers now use the standard FHB Assistance Scheme stamp duty concession.