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First Home Benefits




 

First Home – New Home scheme

First Home Buyers purchasing a brand new home under $550,000 can apply for an exemption from Stamp Duty on your Contract, or if the purchase price is between $550,000 and $650,000 you can apply for a discount on your Stamp Duty on the Contract under this Scheme.

If you are buying a vacant block of residential land to build your first home for under $350,000 you can apply for an exemption from Stamp Duty, or if the purchase price is between $350,000 and $450,000 you can apply for a discount on your Stamp Duty under this Scheme.

 


First Home Owner Grant (New Homes) scheme


First Home Buyers purchasing a brand new home, or vacant block of residential land to build your first home for under $650,000 can apply for the $15,000 First Home Owner Grant (New Homes) under this scheme.

 



To be eligible for the First Home New Home Scheme, or First Home Owner Grant above:

  • at least one buyer must be an Australian citizen or permanent resident
  • the agreement must be for the purchase of the whole property
  • you must be a natural person (not a company or trust)
  • you must be over 18
  • the home is a brand new home
  • you or your partner have not previously owned property in any form in Australia
  • at least one purchaser must occupy the home within 12 months and needs to live in the home for a continuous period of at least 6 months.








 

If you would like to know more about these benefits, please contact the Office of State Revenue or our office.