Starting from today, 1 February 2024, individuals who buy and live in a property but have less than a 25% ownership stake (either individually or collectively) won't qualify for the primary residence exemption from the 2025 land tax year onward. There may be transitional provisions in place until the 2026 land tax year for current homeowners and those who bought a property and applied for the exemption on, or before, 31 January 2024.
For more information, visit the Revenue NSW website.