Understand the Benefits and Eligibility for Stamp Duty Savings 

Maximise Your Savings with Stamp Duty Concessions for First Home Buyers

Explore how first home buyers in NSW can benefit from stamp duty exemptions and concessions, along with the First Home Owners Grant, to make home ownership more affordable.

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Stamp duty is usually the largest single cost on top of your deposit, and most states offer first home buyers an exemption or a reduced rate. Whether you qualify, and how much you save, depends on the state you are buying in, the purchase price, and whether the property is new, established or vacant land.

Buying in NSW

Under the First Home Buyers Assistance Scheme, eligible first home buyers pay no transfer duty on a home valued at or under $800,000, with a concessional rate applying between $800,000 and $1,000,000. Vacant land is exempt to $350,000, with a concession to $450,000. You also need to move in within 12 months of settlement and live there for 12 continuous months. Transfer duty thresholds are those in force from 1 July 2023, sourced from Revenue NSW.

Our full NSW stamp duty exemptions guide works through eligibility, current rates, worked examples and the mistakes that most often cost buyers the exemption.

Buying outside NSW

Every state and territory sets its own thresholds, and they move on separate budget cycles. Western Australia lifted its first home owner duty threshold to $600,000 in May 2026, for example, while the ACT offers a full exemption with no value cap but an income test. Our stamp duty by state comparison sets all eight jurisdictions side by side, and our first home owners grant comparison covers the cash grants that sit alongside them.

To estimate your own figure, use our stamp duty calculator.

Where a broker helps

Knowing the duty figure is one thing. Knowing what the whole purchase costs, and what a lender will actually approve, is what decides the property you can buy. We work out your total cash requirement including duty, lenders mortgage insurance, conveyancing and lender fees, then compare 52+ lenders to find a structure that fits. There is no cost to you for that work; we are paid a commission by the lender.

Thresholds and eligibility rules change with each state budget. Confirm your position with the relevant state revenue office or speak to us before you sign a contract.

This page contains general information only and does not constitute financial advice. Your personal financial situation, objectives and needs have not been considered. Before acting on any information, you should consider its appropriateness to your circumstances. Speak to a qualified mortgage broker for advice tailored to your situation. Mortgage World Australia Pty Ltd ATF O’Brien Family Trust (ABN 65 653 284 433) is a credit representative (CR No. 396946) of Mortgage Specialists Pty Ltd (ACN 612 422 178, Australian Credit Licence No. 387025).

FAQs

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A stamp duty concession reduces the transfer duty you pay when you buy a property. A full exemption removes it entirely. Most states offer both to eligible first home buyers, with the outcome depending on the purchase price and the type of property.

Not if the property is valued at or under $800,000 and you meet the eligibility rules. Between $800,000 and $1,000,000 a concessional rate applies, and above $1,000,000 full duty is payable. Thresholds are those in force from 1 July 2023, sourced from Revenue NSW.

In most cases you will not qualify. The schemes generally require that neither you nor your spouse or partner has previously owned residential property in Australia. A partner’s earlier ownership can disqualify both of you, which catches people out more often than you would expect.

Considerably. Each state and territory sets its own thresholds and moves them on its own budget cycle, so a purchase price that is exempt in one state can attract duty in another. Check the rules for the state you are buying in, not the one you live in.

Your conveyancer or solicitor usually lodges the application as part of settlement. It is worth confirming with them that it has been done, because the concession is not applied automatically.

Not directly, but it changes how much cash you need at settlement. Paying less duty can mean a larger deposit, a smaller loan, or avoiding lenders mortgage insurance. That is worth modelling before you start making offers.

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