New home makes all the difference

Last week's Family Money included an article entitled "Don't forget the extra expenses when buying a house".

Under "stamp duty", it stated that owner-occupiers who purchased a home less than 125 square metres in size (1,345 square feet) were exempt from stamp duty, provided they lived there for at least five years.

This should have read: "Owner-occupiers who purchase a new home less than 125 square metres in size are exempt from stamp duty, provided they live there for at least five years."