News from the Ballina Heights Estate.

Welcome to Ballina Heights news section. Please click on the links below to view the latest news.

Ballina Heights Updates

February 10th, 2011

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New South Wales Home Builders Bonus

June 11th, 2010

The NSW Home Builders Bonus (HBB) has been introduced to stimulate the construction of new homes in NSW. HBB provides a specific exemption for eligible seniors purchasing a new home as their principal place of residence (Seniors Principal Place of Residence Duty Exemption).

The NSW Housing Concession provides a full exemption on transactions relating to vacant land and off the plan purchases where building has not commenced. A partial concession of 25% of duty payable applies to completed homes new homes or off the plan purchases where construction has commenced. There is no limit to the number of new homes a person may purchase under this concession.

The Seniors Principal Place of Residence Exemption fir eligible seniors purchasing a new home that is to be occupied as their principal place of residence. Applicants must be 65 or over and selling their current residence.

To be eligible for HBB the value of the vacant land must not exceed $400,000 and new homes must not exceed $600,000.

The agreement for sale or transfer must be either a new home purchase, or off the plan purchase, or a vacant land purchase. A new home purchase is an agreement for the sale of transfer, or a transfer, of land that is the site of a new home that is complete and ready for occupation.

An off the plan purchase is an agreement for the sale or transfer of land intended to be used as the site of a new home, which is to be built before completion of agreement. A vacant land purchase is an agreement for the sale or transfer, or a transfer, of vacant land that is intended to be used as the site of a new home and which is not an off the plan purchase.

Eligibility Requirements for Transactions

  1. Agreements for sale or transfers of vacant land or a new home will be eligible for consideration under HBB where they are entered into on or after 1 July 2010 and before 1 July 1012.
  2. A new home is a home that has not previously been occupied or sold as a place of residence, and includes a substantially renovated home.
  3. An agreement for sale or transfer is eligible if it is an agreement for sale or transfer for the acquisition of a new home that is completed and ready for occupation.
  4. An off the plan purchase will be eligible only if the agreement for sale is;
    a.) entered into on or after 1 July 2010 and before 1 July 20111 and completed by 31 December 2012
    OR
    b.) entered into on or after 1July 2011 and before 1 July 2012 and completed by 31 December 2013.
  5. For vacant land, construction must commence with the laying of foundations within 26 weeks after the agreement for sale or transfer is entered into, or within any longer period allowed by the Chief Commissioner and the building work must be completed within 18 months after the laying of foundations begins or within a longer period allowed by the Chief Commissioner.
  6. Applications for exemptions or concessions under HBB must be made within 3 months of the date of the agreement for sale (or transfer where there is no preceding agreement).
  7. The agreement for sale or transfer must be for the whole of the land. If the land is a parcel of land on which two or more homes are built or being built, the agreement for sale or transfer must be for that part of the land that is an exclusive occupancy.

Ineligible Transactions

  1. A transfer made on or after 1 July 2010 that is is conformity with an agreement for sale or transfer entered into prior to 1 July 2010 will not be eligible.
  2. An agreement for sale or transfer of a new home is not eligible if it replaces an agreement for sale or transfer made before 1 July 2010 that was for substantially the same property.
  3. An agreement for sale or transfer will not be eligible if the new home or the land on which the new home is located, or is to be built, is intended to be used, or made available for use, for any purpose that is not ancillary to the use and occupational of the land for residential purposes (e.g. for a commercial, industrial or professional purpose).

The Seniors Principal Place of Residence Duty Exemption Eligibility Requirements

For an off the plan purchase where construction has not commenced or a vacant land purchase, seniors will be entitled to an should apply for exemption under the New Housing Concession.  The Seniors Principal Place of Residence Duty Exception will apply where the agreement for sale or transfer is either a completed new home purchase or an off the plan purchase where construction has commenced.

To be eligible for this exception;

  1. All of the purchasers must be aged 65 or over, or where a married couple, or de facto partners are the purchasers, as long as one of them is aged 65 or older.
  2. The eligible senior (and spouse, if any) must move into the home within 12 months of completion of the agreement or transfer and occupy the property as their principal place of residence for a continuous period of at lease 12 months.
  3. The eligible senior must have owned and occupied a home in NSW within the lase 12 months before the date of the current agreement for sale.
  4. The eligible senior (and spouse if owner) must dispose of such former home in the period either prior to, or within six months after the completion of the current agreement for sale.

A person is defined as an eligible senior if;

  1. The person is aged 65 years or older.
  2. The person is an Australian Citizen or permanent resident.
  3. Neither the person, nor the person;’s spouse (if any) has previously had the benefit of the Seniors Principal Place of Residence Duty Exception.

Payment of Duty

Where the 25% duty reduction applies for the purchase of a completed new home, duty is payable within three months of the date that the agreement for sale or transfer is first executed.

For an off the plan purchase, duty must be paid within three months of;

  • The completion of the agreement for sale, OR
  • The expiration of 12 months after the date of the agreement for sale

Whichever occurs first.

Ballina Bypass

April 29th, 2010

Ballina Bypass Information

Ballina Bypass Creates Highway Detour

Northern Star April 28th 2010 – Rebecca Lollback

The Pacific Highway will take a new turn today Wednesday 28th April 2010 with the opening of the Cumbalum switch section of the Ballina bypass, north of the town. North of Deadmans Creek Road, highway traffic will be permanently diverted onto the new alignment and under the Cumbalum interchange bridges. The existing the Pacific Highway will be closed just south of Cumbalum Road. Read the rest of this entry »

Playing Fields Under Construction

April 9th, 2010

Ballina Heights Playing Fields

The Ballina Heights playing fields have been thoughtfully planned to comprise all the necessary elements of a high quality outdoor facility. There will be pedestrian and cycleway links to the surrounding residential areas with easy access to Cumbalum Way and the Pacific Highway.

The earthworks and topsoil spreading has been completed and the green-keeping/seeding has began. The landscaping around the fields and along the waterways is also due to commence.

Detailed designs for the associated amenities and parking are being prepared with final construction of these facilities scheduled to commence in June 2011.

Subdivision stage release plans

April 9th, 2010

Perched high on top of the beautiful Ballina Heights Estate, stage 8b is the most stunning land release to date. The release also qualifies for the Land Buyers Subsidy $25,000 Grant#. Secure your lot today.

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