Stamp Duty for First Home Buyers

What is stamp duty for first home buyers?

Stamp duty - often called transfer duty, land transfer duty or conveyance duty depending on the state or territory - is one of the biggest buying costs outside the deposit. It is state-based, which means the same purchase price can produce a very different result depending on where you buy and whether you fit a first home buyer concession.

That is why stamp duty planning sits inside the cluster as its own support page. This page is not about “all buying costs”. It is about duty only: how it works, where first home buyer concessions usually apply, where people get caught out, and how to confirm the number before you go unconditional.

When stamp duty becomes important in the buying process

Buyers often look at stamp duty too late. The better timing is early, while you are still working out your realistic price range. In practical terms, duty affects:

• how much cash you need at settlement
• whether a property is still affordable after legal costs and moving costs are included
• whether you need more savings, a smaller purchase price or a different deposit path

The exact due date depends on your state or territory and how your transaction is lodged, but the planning takeaway is simple: you want the number confirmed before you waive finance or go unconditional. In Queensland, for example, transfer duty timing is linked to when the documents are lodged and assessed, and the liability usually arises from the contract date rather than the settlement date. In the Northern Territory, government guidance says duty is generally payable within 60 days of entering into the transaction or at settlement, whichever is earlier.

How first home buyer stamp duty concessions usually work

Most states and territories use some version of the same logic:

• a full exemption below a certain threshold, or a partial concession up to a higher threshold
• owner-occupier rules - you generally need to move in and live there for a minimum period
• different outcomes for established homes, new homes, vacant land, and off-the-plan purchases
• joint-buyer rules - buying with someone who has owned property before can reduce or remove the benefit

The reason people get this wrong is that the rule is rarely just “first home buyers pay no duty”. The outcome depends on the property type, value, contract date and how your state treats your personal situation.

Current official examples show how different the rules are: Victoria currently offers a first home buyer duty exemption up to $600,000 and a concession from $600,001 to $750,000; NSW currently gives a full exemption up to $800,000 for eligible buyers and a concession above that up to $1,000,000; Queensland now has separate first home concessions for homes and brand-new homes, with full transfer duty relief available for certain new home and vacant land purchases from 1 May 2025; and the ACT Home Buyer Concession Scheme currently removes duty up to $1,020,000 for eligible applicants, with partial concession above that cap.

Because duty is only one part of the cash stack, pair this with the deposit guide. If you are buying new, compare it with the First Home Owner Grant guide as well.

Official calculators and revenue pages to check before you sign

Use the official calculator first, then ask your conveyancer or solicitor to confirm the number from your contract. That two-step process is the fastest way to avoid nasty surprises.

New builds, off-the-plan purchases and vacant land

This is where many first home buyers get tripped up, because duty outcomes can change based on what exactly you are buying.

• Established home: often the simplest case, but value caps and owner-occupier rules still apply.
• Brand-new or newly built home: some states offer stronger concessions or full relief because they want to support new housing supply.
• Off-the-plan: the contract structure can change how the dutiable value is assessed, and the concession may differ from a standard established-home purchase.
• Vacant land: some states give concessions for first home buyers building a home, but the rules are separate and often linked to construction timing.

If you are comparing an established property with a land-and-build path, do not compare deposit only. Compare the total cash stack, including duty, legal costs, build-stage timing and the time you will need to keep paying rent while construction is underway.

Common stamp duty mistakes first home buyers make

1. Assuming the concession applies automatically. It still has to match your state rules, property type and buyer profile.
2. Forgetting to test the joint-buyer rules. Buying with someone who has owned before can change the answer.
3. Using a generic calculator. The wrong calculator or buyer type can produce a false sense of affordability.
4. Not budgeting for it until the last minute. Duty is a planning number, not just a settlement number.
5. Missing off-the-plan or land-package detail. These transactions can be assessed differently and deserve early legal advice.

Questions to ask your conveyancer or solicitor

• Based on this exact contract and buyer profile, what is the estimated duty?
• Do I qualify for a full exemption, a concession, or no relief?
• What occupancy rules apply, and when do I need to move in?
• If this is off-the-plan or land plus build, how is the dutiable value worked out?
• When exactly will duty be due for my transaction?

Once the duty number is clear, it is much easier to build the correct finance strategy around it.

Next steps

1. Use the correct state or territory revenue calculator for your likely price range.
2. Confirm whether the buyer profile and property type actually fit a first home concession.
3. Add duty to the full cash stack, not just the deposit.
4. Use the scheme calculator for deposit-path planning, the guide for the full roadmap, or the broker page if you want your numbers checked end to end.