You may have found your dream first home and worked out your budget, but have you considered whether you’ll have to pay stamp duty?
Stamp duty – also known as transfer duty – is an upfront government tax on property purchases which often catch first home buyers off guard.
The good news is, many first home buyers are exempt from paying stamp duty thanks to state-based assistance schemes, but not all prospective buyers are eligible.
Our guide will tell you whether you are entitled to stamp duty exemption or concessions and how much you could be expected to pay.
What is stamp duty?
Stamp duty is a one-off tax which is paid to your state government during property sales or the transferral of ownership.
Generally, it is the buyer who is responsible for paying stamp duty and it will be your biggest upfront cost when purchasing a home.
How is stamp duty calculated?
The cost of stamp duty varies depending on the value of the property you are purchasing and which state the transaction takes place in.
Stamp duty is calculated using a tiered system, so the higher the value of your new home, the more expensive your stamp duty will be.
For example, if you were buying a $900,000 home in Melbourne in 2025, you would need to pay upfront stamp duty of $49,000.
Stamp duty rates change regularly – often yearly – based on state government policies. You can use our stamp duty calculator for an estimate of the stamp duty you will pay when purchasing a property in your state.
When do I need to pay stamp duty?
You will usually need to pay stamp duty within 30 days of the property transaction settlement, or on the day of the settlement if completing the transaction electronically.
Stamp duty exemptions & concessions for first home buyers
All Australian states offer stamp duty exemptions and concessions for first-time buyers to lower the cost of buying your first home. Read on to check whether you are eligible in your state:
New South Wales (NSW) – first home buyers assistance scheme
What’s on offer:
- First home buyers do not pay stamp duty when purchasing a new or existing residential property with a value of up to $800,000
- Concessions apply for homes valued between $800,000 and $1million
Eligibility requirements:
- You must move into the property within 12 months from settlement
- The property must be used as your main place of residence for at least 12 months
- The property must be the first home you or your spouse have owned in Australia
- You must be an Australian citizen or permanent resident
Other available schemes:
- First home buyers in NSW may also be eligible for a First Home Owner Grant of $10,000 towards the purchase price of a new home.
- To qualify, your home must be worth no more than $600,000, have never been lived in before, and you must live in it for 12 continuous months after settlement.
Queensland (QLD) – first home concession
What’s on offer:
- First home buyers do not pay stamp duty when purchasing a new or existing residential property with a value of up to $700,000.
- Concessions apply for homes valued between $700,000 and $800,000
Eligibility requirements:
- You must move into the property within 12 months from settlement
- The property must be used as your main place of residence
- The property must be the first home you have owned in Australia or overseas
Other available schemes:
- First home buyers in QLD may also be eligible for a First Home Owner Grant of $30,000 towards a new home.
- To qualify, your new home must be worth no more than $750,000, have never been lived in before and you must be an Australian citizen or permanent resident who has not owned a residential property since 2000.
Western Australia (WA) – first home owner rate
What’s on offer:
- First home buyers do not pay stamp duty when purchasing a new or existing residential property with a value of up to $450,000.
- Concessions apply for homes valued between $450,000 and $600,000
Eligibility requirements:
- You must move into the property within 12 months from settlement
- The property must be used as your main place of residence for at least six months
- The property must be the first home you have owned in Australia
- You must be an Australian citizen or permanent resident
Other available schemes:
- First home buyers in WA may also be eligible for a First Home Owner Grant of $10,000 towards the purchase price of a new home
- To qualify, your home must be worth no more than $750,000, have never been lived in before, and you must live in it for 6 continuous months after settlement
Victoria (VIC) – first home buyer duty exemption or concession
What’s on offer:
- First home buyers do not pay stamp duty when purchasing new or existing residential properties with a value of up to $600,000.
- Concessions apply for homes valued between $600,000 and $750,000
Eligibility requirements:
- You must move into the property within 12 months from settlement
- The property must be used as your main place of residence for at least 12 months
- The property must be the first home you’ve owned in Australia
- You must be an Australian citizen or permanent resident
Other available schemes:
- First home buyers in VIC may also be eligible for a First Home Owner Grant of $10,000 towards the purchase price of a new home
- To qualify, your home must be worth no more than $750,000, have never been lived in before, and you must live in it for 12 continuous months after settlement
South Australia (SA) – stamp duty relief
What’s on offer:
- First home buyers do not pay stamp duty when purchasing new or off-the-plan properties. There is no price cap on the value of the property
Eligibility requirements:
- You must move into the property within 12 months from settlement
- The property must be used as your main place of residence for at least 6 months
- The property must be the first property you have owned in Australia
- You must be an Australian citizen, permanent resident, or New Zealand citizen with a Special Category visa
Other available schemes:
- First home buyers in SA may also be eligible for a First Home Owner Grant of up to $15,000 towards the purchase or building price of a new home
- To qualify, your new home must have never been lived in before, and you must live in it for 6 continuous months after settlement.
Tasmania (TAS) – established homes duty relief
What’s on offer:
- First home buyers do not pay stamp duty when purchasing existing residential properties with a value of up to $750,000
- Concessions apply for properties purchased between 2018 and 2024
Eligibility requirements:
- You must move into the property within 12 months from settlement
- The property must be used as your main place of residence for at least 6 months
- The property must be the first property you have owned in Australia
- You must be an Australian citizen or permanent resident
Other available schemes:
- First home buyers in TAS may also be eligible for a First Home Owner Grant of up to $10,000 towards the purchase or building price of a new home
- To qualify, your new home must have never been lived in before and you must live in it for at least 6 continuous months after settlement
Australian Capital Territory (ACT) – home buyer concession scheme
What’s on offer:
- First home buyers do not pay stamp duty when purchasing new or existing residential properties with a value of up to $1million
- Concessions apply for properties valued over $1million depending on your household income, the property’s value, and purchase date
Eligibility requirements:
- You must move into the property within 12 months from settlement
- The property must be used as your main place of residence for at least 12 months
- The property must be the first property you have owned in Australia in the last 5 years
- You must be an Australian citizen or permanent resident
Other available schemes:
- First home buyers in ACT may also be eligible for a First Home Owner Grant of up to $12,500 towards the purchase or building price of a new home
- To qualify, your new home must have never been lived in before and you must live in it for at least 12 continuous months after settlement
Northern Territory (NT) – home owner assistance
What’s on offer:
- Stamp duty exemption is available for some first home buyers purchasing a house and land package. The amount of stamp duty you pay depends on the type and value of the property
Eligibility requirements:
- The house and land package must be purchased between July 2022 and June 2027
Other available schemes:
- First home buyers in NT may also be eligible for a HomeGrown Territory Grant of up to $50,000 towards the purchase or building price of a home
- To qualify, you must be an Australian citizen or permanent resident and live in your new home for at least 12 continuous months after settlement
How do i apply for stamp duty exemption?
Your conveyancer or solicitor can assist you with stamp duty exemption applications and advise you on your eligibility and which supporting documents are required.
At Entry Conveyancing, we can help you with all the legal aspects of the property transfer. Call us on 1800 518 187 or contact us using this form on this page and a member of our team will be in touch.
