How Much Is Stamp Duty for First Home Buyers?

You’ve finally found the perfect home, crunched the numbers and lined up your mortgage – but have you factored in stamp duty? Also known as transfer duty, this extra cost can catch many first-time buyers off guard.

Understanding the upfront costs related to stamp duty, along with ongoing expenses such as council rates and home insurance, can really help when you’re trying to crunch the numbers.

Fortunately, most states and territories offer some kind of first home buyers assistance scheme, often involving a stamp duty exemption or concession, which may help reduce the cost of your new home.

In this guide, we’ll explain how stamp duty works, break down the stamp duty exemptions and concessions available, and highlight how federal schemes – such as the First Home Super Saver Scheme – can support you in buying your first home.

What is stamp duty?

Stamp duty is a tax imposed by state and territory governments on the transfer of residential property. The amount you pay depends on the property’s value and is calculated according to where you live.¹ You typically need to pay stamp duty within 30 days of settlement.²

Your eligibility for any concessions generally depends on the property being your principal place of residence – meaning the home you live in – rather than an investment property.³

How do stamp duty concessions work?

All states and territories offer concessions or a stamp duty exemption for first home buyers, which are designed to help reduce the cost of buying your first property.

This support typically applies to properties below a certain value threshold and may differ depending on whether you’re buying a new or existing home. We’ll explore these details below to help you understand how concessions and other factors might impact your stamp duty costs.

How much stamp duty will I need to pay?

To get an idea of how much you may need to pay, you can use a stamp duty calculator to generate an estimate specific to your property and location.

You can check the stamp duty support that may be available in your state or territory using our list below.

We’ve included links to the official calculators for each state or territory, along with more information on how the tax is calculated in each location. Keep in mind these calculators provide estimates only.

Stamp duty for first home buyers in NSW

In New South Wales, first home buyers may be eligible for stamp duty concessions or exemptions under the First Home Buyers Assistance Scheme.⁴

What you’ll pay

• There’s no stamp duty for first home buyers purchasing new or existing homes valued up to $800,000.⁴
• Concessions apply for homes valued between $800,000 and $1 million.⁴
• To estimate how much stamp duty you might need to pay, use the NSW Stamp Duty Calculator.

What are the eligibility criteria?

There are various eligibility criteria, including:

• First-time buyers must be purchasing a new or existing residential property as their principal place of residence.⁴
• The property value must be below $1 million to qualify for a concession.⁴

How to apply

Application forms are processed through Revenue NSW, usually at the time of settlement, via your solicitor or conveyancer.⁴

Stamp duty for first home buyers in QLD

In Queensland, first home buyers may benefit from the first home concession, which reduces stamp duty, or transfer duty, for properties valued at less than $800,000.⁵

What you’ll pay

• No stamp duty is payable for first home buyers purchasing property valued at $700,000 or less.⁵
• Concessions apply for homes valued between $700,001 and $800,000.⁵
• To estimate how much stamp duty you might need to pay, use the Queensland Transfer Duty Estimator.

What are the eligibility criteria?

There are various eligibility criteria, including:

• First-time buyers must be purchasing their principal place of residence.⁵
• The property must be under $800,000 to qualify for a concession.⁵

How to apply

Application forms are available from the Queensland Revenue Office (QRO)⁵ and must be submitted with relevant forms and documents either through your solicitor or directly with the QRO.⁶

Stamp duty for first home buyers in WA

Western Australia offers stamp duty exemptions for first home buyers purchasing homes under the First Home Owner Rate (FHOR).⁷

What you’ll pay

• There’s no stamp duty for homes valued up to $430,000 (purchased before 9 May 2024) or up to $450,000 (purchased on or after 9 May 2024).⁷
• Concessions apply for homes valued between $430,001 and $530,000 (purchased before 9 May 2024) or between $450,000 and $600,000 (purchased on or after 9 May 2024).⁷
• To estimate how much stamp duty you might need to pay, use the RevenueWA Transfer Duty Calculator.

What are the eligibility criteria?

There are various eligibility criteria, including:

• First-time home buyers must be purchasing a new or existing residential property as their principal place of residence.⁸
• Property value must be below $530,000 (purchases before 9 May 2024) or below $600,000 (purchases on or after 9 May 2024) to qualify for a concession.⁸

How to apply

Application forms and supporting documents should be lodged with RevenueWA directly or through an approved finance provider.⁸

Stamp duty for first home buyers in VIC

In Victoria, first home buyers may benefit from a stamp duty exemption or concession for the purchase of a new or established home or vacant land.⁹ From 21 October 2024, a temporary off-the-plan concession also applies for 12 months for the purchase of units, apartments and townhouses in a strata subdivision.¹⁰

What you’ll pay

• There’s no stamp duty for first home buyers purchasing homes valued up to $600,000.⁹
• Concessions apply for homes that cost between $600,001 and $750,000.⁹
• Concessions also apply for all off-the-plan purchases of units, apartments and townhouses in a strata subdivision from 21 October 2024 and for 12 months.¹⁰
• To estimate how much stamp duty you might need to pay, use the Land Transfer Duty Calculator for Victoria.

What are the eligibility criteria?

There are various eligibility criteria, including:

• First-time home buyers must be purchasing a new or existing residential property as their principal place of residence.⁹
• The property must not exceed $750,000 to qualify for a concession.⁹
• To qualify for the off-the-plan concession for dwellings in a strata subdivision, purchasers don’t need to be first-time buyers.¹⁰

How to apply

To apply for the first home buyer duty exemption, concession or reduction, you need to complete an online Digital Duties Form.¹¹ This can be done directly through the State Revenue Office or via your conveyancer or solicitor.¹²

Stamp duty for first home buyers in SA

South Australia offers stamp duty relief for eligible first home buyers purchasing or building a new home, buying off-the-plan, or acquiring vacant land to build on. 

As of 13 February 2025, new eligibility criteria apply. Stamp duty relief means eligible buyers may not have to pay the usual stamp duty at settlement.¹³

What you’ll pay

No stamp duty is payable if you’re an eligible first home buyer purchasing:

• A new home or off-the-plan apartment 
• Or vacant land to build your new home on¹³

For contracts entered between 15 June 2023 and 5 June 2024, first home buyers may receive a full exemption on stamp duty for new homes valued under $650,000, with partial relief available for homes priced between $650,000 and $700,000.  

From June 6, 2024, onwards, full stamp duty relief applies, with no price cap currently specified by RevenueSA.¹³

To estimate how much stamp duty you might need to pay, use the Land Services SA Property Transfer Fee Calculator.

What are the eligibility criteria?

Eligibility for stamp duty relief depends on when you entered into your contract: 

• From 13 February 2025 onwards, you – and your spouse or domestic partner – must never have owned residential property in Australia. You must be buying or building a new principal place of residence and live in the home for a continuous period of at least six months, starting within 12 months of settlement – or completion, if building.¹³
• For contracts entered between 15 June 2023 and 12 February 2025, you may still be eligible even if you previously owned property, provided you didn’t live in that property for six continuous months.¹³

Additional general requirements apply: 

• All applicants must be at least 18 years old and natural persons.¹³
• At least one applicant must be an Australian citizen, permanent resident, or New Zealand citizen holding a Special Category visa.¹³

How to apply

Eligible first home buyers need to complete an Application for Stamp Duty Relief for Eligible First Home Buyers form¹⁴ and provide it to their conveyancer or solicitor along with any required supporting documentation.¹⁴

Stamp duty for first home buyers in TAS

In Tasmania, first home buyers can access a full stamp duty exemption or a 50% concession for the purchase of established homes.¹⁷ A 50% concession is also available for the purchase of off-the-plan apartments or units valued up to $750,000.¹⁸

What you’ll pay

• First home buyers who purchase an established home on or after 18 February 2024 are eligible for a full stamp duty exemption for properties valued up to $750,000.¹⁷
• Purchases made between 7 February 2018 and 17 February 2024 may receive a 50% concession for properties valued up to $600,000.¹⁷
• For new builds or established homes over $750,000, you can estimate how much stamp duty you might need to pay using the Property transfer duty calculator for Tasmania.

What are the eligibility criteria?

There are various eligibility criteria, including:

• First-time home buyers must be purchasing an established residential property as their principal place of residence.¹⁷

How to apply

Complete the First home buyers of established homes duty relief application and submit it directly to the Tasmanian State Revenue Office or via your conveyancer or solicitor.¹⁹

Stamp duty for first home buyers in the ACT

In the Australian Capital Territory, the Home Buyer Concession Scheme offers stamp duty exemption and concessions for the purchase of vacant residential land and both new and established homes.²⁰

What you’ll pay

• There’s no stamp duty payable for properties up to $1 million where the income of all home buyers and their partners is not greater than the relevant income threshold.²⁰
• For properties over $1 million, the amount of the concession available depends on your household income, the value of your new property and the purchase date.²⁰
• To estimate how much stamp duty you might need to pay, use the ACT conveyance duty calculator.

What are the eligibility criteria?

There are various eligibility criteria, including:

• Home buyers must be purchasing their principal place of residence under the value threshold who have not owned any other property in the past five years.²⁰

How to apply

All concessions and exemption applications at the ACT Revenue Office are self-assessed. If you’re eligible to claim the concession, you need to register the title transfer with Access Canberra20 using the relevant concession code.²¹ You can also submit an application after the registration of transfer using the online application form.²²

Stamp duty for first home buyers in the NT

A stamp duty exemption is available in the Northern Territory for eligible home buyers purchasing a house and land package.²³

What you’ll pay

• The amount of stamp duty you need to pay depends on the type and value of the transaction.²⁴
• To estimate how much stamp duty you might need to pay, use the NT Land or property transfer stamp duty calculator.

What are the eligibility criteria?

• If you purchase a house and land package in the NT between 1 July 2022 and 30 June 2027, you may be eligible for a stamp duty exemption.²³
• The exemption is not means tested and there’s no cap on the value of the property.²³

How to apply

Applications are processed through the NT Revenue Office. You will need to complete the relevant application form and submit it with required supporting documents through your conveyancer or solicitor or email it to the NT Revenue Office.²³

Federal support: The First Home Super Saver Scheme

In addition to state-level stamp duty concessions, the federal government offers the First Home Super Saver Scheme (FHSSS), which allows you to use some of your superannuation savings to help fund your deposit.²⁵

The FHSSS lets first-time buyers make voluntary super contributions of up to $50,000 in total, which can later be withdrawn – along with associated earnings – to help finance their first home. This option may serve as an additional support alongside the stamp duty concessions offered in your state or territory.²⁵

There are also first home buyer grants and the Regional First Home Buyer Guarantee, which may also be available when you buy or build your first home.

Cover your new home

Now that you have a better idea of what stamp duty exemptions or concessions may be available to you, you may like to consider insurance for when you do secure your first home.

Youi’s Home insurance offers a variety of options, including Buildings and Contents insurance that might suit your needs.

Information in this article is correct as of November 2024 and by its nature may change over time. Check relevant government websites for updates if this information is important to you.

¹ Source: Canstar – Stamp Duty Calculator, October 2024
² Source: Moneysmart – Buying a house
³ Source: Qld Government – Transfer duty concessions and exemptions
⁴ Source: Revenue NSW – First Home Buyers Assistance scheme
⁵ Source: Qld Revenue Office – First home concession, October 2024
⁶ Source: Qld Revenue Office – How to lodge for transfer duty, July 2024
⁷ Source: WA Government – Duties Fact Sheet – First Home Owner Rate, May 2024
⁸ Source: WA Government – About the first home owner grant, October 2024
⁹ Source: State Revenue Office Vic – First home buyer duty exemption, concession or reduction, September 2024
¹⁰ Source: State Revenue Office Vic – Temporary off-the-plan duty concession, October 2024
¹¹ Source: State Revenue Office Vic – Complete a Digital Duties Form, September 2024
¹² Source: State Revenue Office Vic – Apply for a first home buyer duty exemption, concession or reduction (including the 50% duty waiver), February 2024
¹³ Source: RevenueSA – Stamp Duty Relief for Eligible First Home Buyers
¹⁴ Source: RevenueSA – Application for Stamp Duty Relief for Eligible First Home Buyers
¹⁵ Source: State Revenue Office Tas – First home buyers of established homes duty relief
¹⁶ Source: State Revenue Office Tas – Off the plan apartment or unit duty concessions
¹⁷ Source: State Revenue Office Tas – First home buyers of established homes Duty relief application
¹⁸ Source: ACT Revenue Office – Home buyer concession scheme (from 1 July 2019)
¹⁹ Source: ACT Revenue Office – Codes and supporting documents
²⁰ Source: ACT Revenue Office – Application for concession, exemption or correction of duty after registration of title
²¹ Source: NT Government – Stamp duty exemption
²² Source: NT Government – Stamp duty
²³ Source: Australian Taxation Office – First home super saver scheme, October 2024