Stamp duty for home and land package

Hi guys, I'm about to purchase my first home in NSW, we are going with a split contract home and land package, where the package price is around 820k but the land is priced at 560k.
I've read everywhere that I should be saving on stamp duty with split contract versus single contract, but I did my calculations and I will be paying around 4k in tax for a single contract (as there is no stamp duty up to 800k for new house). but will be paying around 20k if I go with split contract as I will be paying stamp duty on the land which is priced at 560k and I have to pay tax for anything higher that 400k for a vacant land.
Am I missing something?
does home and land package consider a vacant land when settling the land?
can an expert or someone who bought a H&L package under split contract shade some light on the stamp duty he paid please?

 

Is this an investment property or your PPOR?
If it’s an investment property, better to have the split contract so you pay duty only on the land.
I am not sure of all the first home buyer PPOR concessions, so maybe run the different scenarios on this website.
Stamp Duty NSW (New South Wales)

 

Thanks Shazz, it is a live in property.
I've used a similar calculator to come up with the numbers in my post.
The only way the stamp duty on the split contract is less is when I put the price of the land and select a new house instead of a vacant land.
So the question is for split contract H&L packages, is the contract considered as a new house or as a vacant land?

 

The build contract is not subject to duty.Duty applies to land transfer

 

Thanks mate, and the land is registered as a vacant land, not as a house ( being a house and land package), correct?

 

Stamp duty applies only to land (and any structure on it) on the date of transfer.

If you buy land first then build (2 contracts) you will save duty in ordinary circumstances. If its a H&L package the value you buy it for is the dutiable value. The duty concessions for vacant land are not as generous as a h&l contract as the land value is capped at $400K. Also consider the $25K homebuilder concession.

First Home Buyer Assistance scheme