First Home Buyer Assistance Scheme
From 1 August 2020 until 31 July 2021, eligible first home buyers will be exempt from paying stamp duty on new homes up to $800,000 and land up to $400,000.
Unlike the First Home Owner Grant, the First Home Buyer Assistance scheme applies to:
- Buying an existing home
- Buying a new home and
- Vacant land on which you intend to build a home
You can apply for a full exemption if:
- the value of the new or existing home is less than $800,000, or
- the value of your block of land is less than $400,000.
You can apply for a concession if:
- the value of your new or existing home is between $800,000 and $1,000,000, or
- the value of your block of land is between $400,000 and $500,000.
All offers can be applied in conjunction with existing Australian Government incentives such as the $25K Homebuilder Grant, First Home Loan Deposit Scheme and the First Home Super Saver Scheme. Government terms and conditions apply.
Am I eligible?
To be eligible for the First Home Buyers Assistance scheme:
- the contract date must be on or after 1 July 2017 and must be for the whole property
Note: To be eligible for the increased transfer (stamp) duty threshold available between 1 August 2020 and 31 July 2021, the contract date must be on or after 1 August 2020 and on or before 31 July 2021.
- you must be an individual, not a company or trust
- you must be over 18
- you, or at least one person you’re buying with, must be an Australian citizen or permanent resident
- you, and your spouse or partner, must never have owned or co-owned residential property in Australia
- you, and your spouse or partner, must never have received an exemption or concession under this scheme move into the new home within 12 months after buying the property, and live there for at least six continuous months
You won’t be eligible for the First Home Buyers Assistance scheme if you or your spouse have previously:
- owned or co-owned a home in Australia received a first home owner grant in Australia.
However, you may still be eligible if:
- you purchased a residential property after 1 July 2000 and didn’t live in it for more than six continuous months.
How can I apply?
You can apply by completing the First Home Buyers Assistance scheme application form and Purchaser/Transferee Declaration form (individual). You will need to lodge your application forms and supporting documents with your solicitor or conveyancer.
Where can I obtain more information?
or call 1300 130 624