Changes at First State Conveyancing

We would like to advise that our Licensed Conveyancer Sam Clarke has decided to leave First State Conveyancing after a very long and happy association.

Sam started with East Coast Conveyancing many, many moons ago as a receptionist and leaves First State Conveyancing as a highly skilled licensed Conveyancer.

Sam’s plan is to pursue other avenues of employment related to her interests in creative arts and will be finishing up on Friday 29th June 2012.

Sam's files will be jointly managed by our Licensed Conveyancers Kirsty Travis and Rebecca McDonald in a job share position. Kirsty will be available on Mondays and Tuesdays and Rebecca will be available for the remainder of the working week.

Kirsty previously worked in our office five years ago (as Kirsty Tulloch) and left to pursue marriage and motherhood. Rebecca has worked in our Taree office for a number of years and now returns as Licensed Conveyancer after her recent maternity leave.

We would expect that the transition will be seamless for both Sam's clients and colleagues.

To all who have had the pleasure of working with Sam over the years, I am sure you will agree with me that Sam will be sorely missed. As Sam's employer, I would like to thank her for her unwavering dedication to do the best job possible and her immeasurable loyalty, not to mention her friendship. Most of all, I admire Sam for her determination to pursue her dream and wish her every success in her new career. 

YAY FOR STAMP DUTY CUTS

The NSW Treasurer, the Hon. Mike Baird, has today announced a raft of changes to NSW taxes and grants as part of the 2012 State Budget.

Some of the changes which will have a direct impact on those buying real estate are as follows;

New Home Grant Scheme
From 1 July 2012, a new $5 000 grant will be provided to buyers of new homes, whether off the plan or newly built, with a value up to $650,000 and to buyers of vacant land that is intended to be the site of a new home valued up to $450,000.

First Home Owner Grant (New Home) Scheme
From 1 October 2012, the First Home Owner Grant Scheme will be replaced by the First Home Owner Grant (New Home) Scheme. The new scheme will only apply to first homebuyers who purchase or build a new home valued at up to $650,000.

The grant will increase from $7 000 to $15,000 from 1 October 2012 to 31 December 2013 and to $10 000 from 1 January 2014.

First Home – New Home
From 1 July 2012:

• The transfer duty exemption cap on new homes increases to $550,000 with duty concessions for new homes valued between $550,000 and $650,000
• The transfer duty exemption cap on vacant land increases to $350,000 with duty concessions for vacant land valued between $350,000 and $450,000.

First State Conveyancing will have more information in the coming weeks regarding these very positive steps that will surely invigorate the new home housing market and sales of vacant land.

RESERVE BANK DROPS INTEREST RATES

The Reserve Bank of Australia (RBA) has cut official interest rates for the second month in a row at today's board meeting.

The cut of 0.25 per cent sees rates fall to 3.50 per cent.

RBA Governor Glenn Stevens released a statement today saying that the outlook for inflation allowed for a more accommodative stance on monetary policy. This combined with modest domestic growth and a weaker and more uncertain international environment directly contributed to the decision.

He went on to say that both households and businesses continue to exhibit a degree of precautionary behaviour, which will more than likely continue for the foreseeable future.

The RBA also observed that housing prices had shown some signs of stabilising around the turn of the year, but have recently declined again.

The decision follows a cut of 50 basis points at the RBA's May meeting. Most pundits are predicting that there are more cuts to come.

FIRST STATE CONVEYANCING HUNTER IS OPEN FOR BUSINESS

Finally, after months of planning, First State Conveyancing Hunter is up and running.
Located at 146 Nelson Street, Wallsend, the office is managed by Chris Tuft and assisted by Nicola Bourke.
For all of your conveyancing needs, contact Chris on (02) 4951 1004 or 1800 180 102 or email Chris at chris@firststateconveyancing.com.au.

Reserve Bank Cuts Interest Rates

The Reserve Bank of Australia has delivered an early Christmas gift to borrowers by cutting its key interest rate for the second month in a row.

The central bank cut its cash rate 25 basis points to 4.25 per cent, marking the first back-to-back monthly cuts since April 2009.

If passed along in full by the banks, today’s cut will save the average mortgage holder - with a $300,000, 25-year mortgage - about $47 a month. Retailers had been calling for a rate reduction to help bolster tepid sales heading in the final few weeks of 2011.


Read more: http://www.smh.com.au/business/rbas-christmas-rate-cut-20111206-1ogih.html#ixzz1fjPvNh1n

New Staff Member for Taree Office

 

First State Conveyancing, leaders and innovators in the provision of Conveyancing services throughout New South Wales, is pleased to announce the appointment of Ms Erin Ruprecht to the position of Trainee Conveyancing Assistant.

Erin had spent the last five years working in the adjoining offices of LJ Hooker Taree.

Managing Director of First State Conveyancing, Dan Lynch is extremely excited about the prospect of working with Erin. "Erin was a joy to work with at LJ Hooker. I am so happy that Erin has decided to bring her stong work ethics to First State Conveyancing.

Dan believes that the addition of Erin to the team will serve to ensure that First State Conveyancing remain the leading providers of Conveyancing Services on the mid north coast.

For all of your conveyancing needs, contact

First S

tate Conveyancing

PO Box

1039 TAREE, NSW 2430

Phone:

0402793095 Email:dan@firststateconveyancing.com.au

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NSW State Budget 2011 - 2012

In the 2011-2012 NSW State Budget announced recently, government stamp duty exemptions will be limited to newly built and off-the-plan homes from January next year.

Under the current arrangements, existing homes worth up to $600,000 are exempt from title transfer duty.

From January 1, 2012 however, the stamp duty exemption will be limited to the acquisition of a first home which is a new home or a vacant block of residential land intended to be the site of a first home. This includes the acquisition of:

(a) a new home (that is a home that has not been previously occupied or sold as a place of residence); or

(b) a substantially renovated home; or

(c) a vacant block of residential land (that is an agreement for the sale or transfer of vacant land that is intended to be used as the site of a first home).

The revised First Home Plus and First Home Plus One schemes will provide full transfer duty exemption for eligible first home buyers purchasing a newly-built home costing up to $500,000 and partial transfer duty exemptions for homes costing between $500,000 and $600,000.

The $7000 first home buyer grant will continue to be available to all eligible first home buyers.

The Home Builders' Bonus for over-55s who buy a newly-built home, costing up to $600,000, has also been extended so they are exempt from paying stamp duty on a purchase made before July 1, 2012.

Also in the budget, the government set aside $564 million for housing.

The coalition promised at the March state election to release 10,000 new housing lots over the next four years in western Sydney.

Another $445 million has been set aside to the NSW Land and Housing Corporation to supply new social housing and to repair, maintain and upgrade existing stock.

The government has also set aside $45 million under the Homeless National Partnership program so the focus shifts from crisis management to early intervention.

Contact First State Conveyancing to discuss stamp duty exemptions, first home owners grants or any other conveyancing enquiry.