Stamp Duty Exemption NSW: Guide to First Home Buyer Concessions

First home buyers in NSW can access the First Home Buyers Assistance Scheme (FHBAS), which provides full or partial relief from stamp duty for first-time buyers. First home buyers in New South Wales may be eligible for a full exemption from stamp duty if they purchase a new home or vacant land to build their first home, effective from 1 May 2025, on properties valued up to $800,000. Potential savings from these exemptions can be significant, exceeding $30,000 in upfront costs for eligible buyers in NSW. If you're purchasing a home valued between $800,001 and $1,000,000, concessional rates apply so you still benefit from reduced duty.

NSW offers stamp duty exemptions primarily through the FHBAS, but every state and territory also provides some form of transfer duty concession. The thresholds, criteria, and concession types vary depending on where you're buying. Notably, first home buyers do not need to be Australian citizens or permanent residents to claim a stamp duty exemption in New South Wales — unlike some other states. Here's what each person needs to know to claim every dollar you're entitled to.

What Is a First Home Buyer Duty Exemption?

A first home buyer concession is a government benefit that reduces or completely waives the transfer duty (stamp duty tax) you'd normally pay when purchasing property. Transfer duty is calculated as a percentage of the property's dutiable value or market value (whichever is higher). Without a concession, a person purchasing a $700,000 home in NSW would pay around $27,000 in stamp duty. With the full concession, that amount of duty payable drops to zero.

Each state has its own transfer duty concession scheme with different criteria. Most require you to be an Australian citizen or permanent resident, intend to occupy the property as your principal place of residence within 12 months of settlement, and submit the correct claim form.

Stamp Duty Exemption NSW

NSW First Home Buyer Duty Exemption Thresholds

Management of stamp duty exemptions and concessions in NSW is primarily through the FHBAS. In New South Wales, first home buyers may be eligible for a full concession on stamp duty, reducing their duty to nil if they purchase a new home or vacant land to build their new home, effective from 1 May 2025. Individuals who have previously owned residential property in Australia are not eligible for the FHBAS. The scheme offers:

• New or existing homes valued up to $800,000 — you are fully exempt from stamp duty and pay nothing
• Homes valued between $800,001 and $1,000,000 — a reduced concessional rate applies, so you still benefit
• Vacant land valued up to $350,000 — full concession for those building a home on vacant land
• Vacant land valued between $350,001 and $450,000 — reduced transfer duty concession

Notably, first home buyers do not need to be Australian citizens or permanent residents to claim a stamp duty exemption in New South Wales — unlike some other states, NSW extends eligibility to certain visa holders. To qualify for the NSW concession, each person on the contract needs to be at least 18 years of age and must not have previously held property or received a home concession in any state. You're also required to move into the property within 12 continuous months of the settlement date and live there for at least 12 months.

Example: Sarah is buying her first home in Sydney for $750,000. Because the dutiable value is under $800,000, she is eligible for the full concession and saves $29,585. She must move into the property within 12 months and occupy it as her principal place of residence.

For the latest thresholds, check the Revenue NSW website.

First Home Concession for Vacant Land in NSW

In New South Wales, buyers of vacant land intended for building their first home may also qualify for a full concession on stamp duty. You can claim a home vacant land concession on land valued up to $350,000, or a partial transfer duty concession on land valued up to $450,000. You must begin construction within a reasonable timeframe and provide an occupancy certificate to confirm the building is complete. Check your living arrangements meet the residency requirement before you intend to claim.

First Home Owner Grant NSW

On top of the stamp duty concession, eligible purchasers in NSW can also claim the First Home Owner Grant (FHOG). This is a separate $10,000 grant for a person buying or building a new home valued up to $600,000.

The FHOG stacks with the concession — so you could receive both a full exemption from stamp duty tax and a $10,000 cash grant if you meet the criteria. Check if you may be eligible for both before you pay transfer duty.

To claim the grant, you must be an Australian citizen or permanent resident, the contract must be for a new home (not an existing home), and you must intend to occupy the property as your principal place of residence for 12 continuous months.

Victoria First Home Buyer Duty Concession

First Home Concession Victoria

Victoria offers a concession for eligible purchasers buying properties valued up to $600,000, making them exempt from transfer duty. For homes valued between $600,001 and $750,000, a sliding home concession applies — meaning you'll pay reduced transfer duty depending on the market value.

Eligible purchasers in Victoria must meet similar criteria to NSW. Each person on the contract needs to be an Australian citizen or permanent resident, you can't have previously held property, and you must occupy the property for 12 continuous months.

Victoria also offers a grant of $10,000 for new homes valued up to $750,000 in metropolitan areas, or up to $750,000 in regional Victoria (where the grant may be higher depending on the program).

For full details, refer to the SRO Victoria website.

Pensioner Duty Concession in Victoria

Victoria also provides a pensioner concession for eligible pensioner concession card holders buying a home. If you hold a valid pensioner concession card and you're purchasing property to occupy as your principal place of residence, you may be eligible for a concession on the stamp duty tax payable. This is assessed based on the dutiable value and your personal circumstances — speak to a professional advice provider or submit the relevant form for details.

QLD First Home Concession and Duty Exemption

Transfer Duty Concession QLD

Queensland offers the first home concession, which provides a full transfer duty concession for eligible purchasers. For contracts signed from 1 May 2025, there is no value cap on the home concession — meaning eligible purchasers pay no transfer duty regardless of the purchase price.

For vacant land, the QLD concession covers buying vacant land with similar benefits for each eligible person on the transaction.

Queensland's criteria are similar to other states. You must be at least 18, an Australian citizen or permanent resident, and have never held an interest in property earlier. You're required to move into the property within 12 months and occupy it for 12 continuous months after the settlement date.

QLD also has the FHOG of $30,000 for new homes — one of the most generous grant programs in the country. Check if you may be eligible before you pay transfer duty on your purchase.

For more information, visit the Queensland Revenue Office transfer duty page.

First Home Buyer Duty Exemptions in Other States

WA Home Buyer Duty Concession

Western Australia offers a transfer duty concession for eligible purchasers. The concession applies to established and new homes, and the WA grant is $10,000 for new homes.

SA and TAS Home Concessions

South Australia provides stamp duty concessions for eligible purchasers, and Tasmania has similar concession schemes. Each state has its own thresholds for each transaction type, so compare the rates for your specific purchase price using our stamp duty calculator.

Other Stamp Duty Exemptions in NSW

Beyond the FHBAS, NSW offers several other stamp duty concessions. Approved charitable organisations may be exempt from stamp duty when purchasing property for approved purposes. Agricultural land transfers between family members may also be exempt from stamp duty to encourage business continuity. Beneficiaries inheriting property through a will generally pay a concessional duty rate of just $100 in NSW. Small businesses with an aggregated turnover under $2 million may be exempt from stamp duty on specific types of insurance. Each exemption has its own criteria — check with Revenue NSW or seek professional advice.

Who Is Eligible for a First Home Buyer Duty Exemption?

While criteria vary by state, most concessions share these common requirements for each eligible person:

• Australian citizen or permanent resident (or in some cases, your spouse or partner must qualify)
• Never previously held property (including through a company, trust, or as a trustee)
• At least 18 years of age (or have a guardian apply on your behalf if you have a legal disability)
• Must occupy the property as your principal place of residence within 12 months of settlement
• Must occupy for 12 continuous months — you can't rent it out or sell the property immediately
• Contract must be signed in the relevant period (check the contracts signed date for each state)
• The property needs to meet the value threshold for a full exemption or qualify for a concessional rate

If you're buying with a spouse or partner, both people generally need to meet the criteria. In some states, if one person has previously held property, you may be eligible for a partial concession depending on your share of the transaction.

Do Investment Properties Qualify for Stamp Duty Exemptions?

Generally, no. Concessions are designed for owner-occupiers who intend to occupy the property as their principal place of residence. Investment properties are not exempt from stamp duty tax under these schemes.

However, there are concession types that may apply to investors — for example, off-the-plan concessions in some states, or concessions for certain transaction types involving a company or trust structure. Each person on the contract should check their eligibility before signing.

If you're buying an investment property and want to estimate your stamp duty costs, check out our complete stamp duty guide for investment properties or use our stamp duty calculator to find the total duty payable.

How to Calculate Your Stamp Duty with Exemptions

The amount you'll save depends on the property's dutiable value, which state you're buying in, and whether you qualify for a full exemption or partial concession. Your property needs to fall within the value threshold for your state, and you need to claim the concession before or at settlement.

Here's a quick estimate for a $650,000 purchase:

State	Full Duty Without Exemption	With First Home Concession	You Save
NSW	~$24,740	$0 (full exemption)	$24,740
VIC	~$35,000	$0 (full exemption)	$35,000
QLD	~$13,650	$0 (full concession)	$13,650

These are examples only — use our stamp duty calculator to get an accurate estimate based on the market value of the property you're looking to purchase. You may be eligible for more savings depending on your state and circumstances.

Common Questions About First Home Duty Exemptions

Can I claim a concession if I've held property overseas?

In most states, the criteria only consider whether you've held property in Australia. Holding property overseas generally doesn't disqualify you, but check with your state revenue office to determine your specific situation and whether you may be eligible.

What happens if I sell or rent out the property before 12 months?

To maintain a claimed exemption, you must meet specific residency requirements, such as moving into the property within a certain timeframe after settlement. If you have claimed a transfer duty exemption, you must notify the relevant authority if your circumstances change, as this may affect your eligibility and could lead to a reassessment of your duty liability. If you don't meet the 12-month occupancy requirement, you may be required to pay the full transfer duty plus penalties. Some states waive this in certain circumstances, such as a change in living arrangements or relationship breakdown.

Can I claim both the concession and the FHOG?

Yes. The stamp duty concession and the grant are separate benefits. You can receive both if you meet the criteria for each — submit the correct form for each claim. The key difference is that the grant usually applies only to new homes, while the concession covers both new and existing homes.

Is stamp duty the same as transfer duty?

Yes — stamp duty and transfer duty are the same tax. The official term used by most state revenue offices is "transfer duty," but it's still commonly called stamp duty tax. Either way, eligible purchasers can claim a concession regardless of what the tax is called.

Ready to Calculate Your Savings?

Use our free stamp duty calculator to estimate how much you could save. Check if you're eligible, claim every concession available, and pay less stamp duty tax on your purchase.

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