First home buyers stamp duty guide

What is stamp duty?

Stamp duty (sometimes referred to as land transfer duty) is a tax you pay on certain purchases. Besides purchasing a property or land, stamp duty might be payable when buying a motor vehicle or insurance policy. Although stamp duty is paid across Australia, it is managed individually by each state and territory government.

How is stamp duty calculated?

Each state and territory sets the rate of stamp duty. You can use a stamp duty calculator to give you an idea of how much you'll be required to pay.

In general, stamp duty is calculated by multiple factors, including:

• Whether it's an established property, off the plan or a new home or vacant land
• The location of the property or land
• The type of buyer you are, first home owners stamp duty may be different to other buyers
• Whether you're considered a foreign purchaser or are an Australian citizen
• Whether the property is an investment property or primary residence

To use Yard's stamp duty calculator, you just need to enter the purchase price, the property location, property purpose and whether it's your first home. 

When is stamp duty paid?

The deadline for paying stamp duty depends on the state or territory you buy in. In Queensland, transfer (stamp) duty must be assessed and paid before the property transfer can be registered, and the documents must generally be lodged for stamping within 30 days of being signed. In practice, this usually means the duty is paid at or just before settlement. In other states, the timing is different. For example, in New South Wales, stamp duty is generally due within three months of signing the contract.

Your solicitor or conveyancer will usually arrange payment to the relevant state or territory revenue office on your behalf.

You may also be able to include the cost of stamp duty in the funds you borrow for your home loan. You'll need to remember that if you add stamp duty to your loan amount and it's over 80% of the property's value, you may be required to pay lender's mortgage insurance.

Do first home buyers pay stamp duty?

There are many concessions, exemptions and grants available for first home buyers. This may have you wondering: do first home buyers pay stamp duty? The answer to this question will depend on the state or territory you purchase your property in. 

Stamp duty concessions and discounts state by state:

Below is the breakdown of how each state handles stamp duty for first home buyers, including links to the relevant state or territory revenues website to get more information.

Stamp duty for first home buyers in NSW

Concessions on stamp duty in NSW for first home buyers fall under the First Home Buyers Assistance Scheme (FHBAS). This scheme allows first home buyers in NSW to access a concessional rate of stamp duty or transfer duty or be exempt from paying it.

The FHBAS is available on purchases of existing property, new property or vacant land as long as the property is your primary place of residence and is within the property value threshold. To be eligible for the scheme, you must be:  

• An individual 18 years or over
• An Australian citizen or a permanent resident of Australia
• Move into the property within 12 months, and  
• Live in the property continuously for at least 12 months if purchasing an existing home.
• Have never owned or co-owned residential property in Australia (you and your spouse or partner)
• Have never previously received an exemption or concession under the scheme (you and your spouse or partner)

The concessions on stamp duty for first home buyers in NSW on or after 1 July 2023 are:

To work out how much stamp duty you have to pay, you can use Yard's stamp duty calculator. And to find out more about the concessions offered by the NSW Government, check their website.

Stamp duty for first home buyers in Victoria

First home buyers stamp duty in Victoria has multiple concessions that different types of purchasers can access. You may even be able to claim more than one concession, exemption or reduction in stamp duty depending on your circumstances.

• First home buyer duty concession or exemption: If you're purchasing a property as a primary place of residence and the property is valued at less than $600,000, you're exempt from stamp duty. If the property has a dutiable value of between $600,001 and $750,000, you may be eligible for a concession. Your contract of sale would need to be dated on or after 1 July 2017 and you must live in the property for a continuous 12 months after settlement.
• Off-the-plan property concession:  If you’re a first home buyer purchasing an off-the-plan apartment, unit, or townhouse in Victoria, you may be eligible for a stamp duty concession. For contracts signed on or after 21 October 2024 and before 20 October 2026, first home buyers can access the expanded off-the-plan duty concession, which has no price cap and applies to strata properties with common property (such as apartments and townhouses). Stamp duty is calculated on the dutiable value, which is the contract price minus construction costs incurred after the contract is signed. If the purchase is not eligible for the expanded concession, first home buyers may still qualify under the existing off-the-plan concession for contracts signed on or after 1 July 2023. Under this concession, the dutiable value (after construction costs are deducted) must be $750,000 or less, and at least one purchaser must move into the property within 12 months of settlement and live in it as their home for 12 continuous months.
• First home buyer with a family concession: If you have at least one dependent child and purchasing a property valued below $150,000, you're eligible for an exemption on stamp duty. You'll receive a concession if the property is valued below $200,000 but over $150,000. If you're purchasing with a partner, both of you must fulfil the eligibility requirements.

To work out how much stamp duty you have to pay, you can use Yard's stamp duty calculator. And to find out more about the concessions offered by the Victorian Government, check their website.

Stamp duty for first home buyers in QLD

From 1 May 2025, Queensland has implemented substantial stamp duty reforms for first home buyers including a full stamp duty exemption with no value cap. There are two additional concessions available specifically for first home buyers in QLD. These concessions are on top of the home concession open to all buyers.

• First home concession: For contracts entered into on or after 1 May 2025, eligible first home buyers purchasing or building a new home receive a full stamp duty exemption with no value cap. That means there is no limit on the property price. This applies to new homes, substantially renovated homes and off-the-plan properties.The property must be your principal place of residence. The previous thresholds of $700,000-$800,000 only apply to contracts entered into before 1 May 2025, or if you're purchasing an established home.  

• First home vacant land concession: If you're purchasing vacant land to build your first home, you can receive a full stamp duty exemption with no price cap, regardless of the land value (for contracts dated 1 May 2025 or later). For contracts signed before 1 May 2025, if the value of the vacant land is under $500,000, you could save up to $10,675. View full requirements here. 

To work out how much stamp duty you have to pay, you can use Yard's stamp duty calculator. And to find out more about the concessions offered by the QLD Government, check their website.

Stamp duty for first home buyers in WA

If you're a first home buyer in WA and are eligible for the First Home Owners Grant.  You can access stamp duty exemptions and concessions when purchasing your first home. The thresholds vary depending on property type and location.

For established homes with contracts entered into on or after 21 March 2025:

• First home buyers purchasing a property valued at less than $500,000 are exempt from paying stamp duty. 
• First home buyers purchasing properties valued between $500,000 and $700,000 duty is payable at a rate of $13.63 for every $100, or part of $100, by which it exceeds $500,000.

For vacant land (statewide):

• First home buyers purchasing vacant land valued at less than $350,000 are exempt from paying stamp duty.
• Vacant land valued between $350,000 and $450,000 receives a concessional rate of stamp duty, where duty is payable at a rate of $15.39 for every $100, or part of $100, by which it exceeds $350,000.

If your property exceeds these value thresholds, you can check the WA Government website to see if you're eligible for the residential rate of duty.

To work out how much stamp duty you have to pay, you can use Yard's stamp duty calculator. And to find out more about the concessions offered by the WA Government, check their website. 

Stamp duty for first home buyers in SA

The SA Government offers stamp duty relief for eligible first home buyers for contracts entered into from 15 June 2023 onwards. Stamp duty relief is not available for established homes but first home buyers may be eligible for relief when buying:

• A new home (including a house, flat, unit, townhouse or apartment)
• An off-the-plan apartment
• A house and land package, or
• Vacant land to build your new home on

For contracts entered into from 6 June 2024 onwards: South Australia has removed all property value caps for stamp duty exemptions on new homes for eligible first home buyers. This means there is no limit on the property value. You pay no stamp duty regardless of whether the new home costs $500,000 or $2 million as long as the criteria are met. 

Additionally, one applicant must utilise the property as their principal place of residence for six months continuously within 12 months from the date of the certificate of occupancy being issued or 36 months from the settlement date for contracts to purchase vacant land.  For contracts to purchase a new home, one applicant must reside within 12 months from the settlement date.

First home buyers in SA can still access the First Home Owners Grant. To work out how much stamp duty you have to pay, you can use Yard's stamp duty calculator. And to find out more about what the SA Government offers first home buyers, check the website.  

Stamp duty for first home buyers in Tasmania

In Tasmania, first home buyers can get a full exemption when purchasing an established property. If you're purchasing a new property, you're eligible for the First Home Owners Grant but don't receive any concessions on stamp duty.

First home buyers of established homes in Tasmania are eligible for a full exemption from property transfer duty on homes with a dutiable value of $750,000 or less, provided the settlement occurs between 18 February 2024 and 30 June 2026. For off-the-plan units, a 50% reduction in transfer duty applies if the unit is valued at less than $750,000, and the sale agreement was signed between 1 July 2024 and 30 June 2026.

To work out how much stamp duty you have to pay, you can use Yard's stamp duty calculator and find out more about the concessions offered by the Tasmanian Government, check their website.

Stamp duty for first home buyers in ACT

From 1 June 2019, the ACT Government opened up the eligibility for a concession on stamp duty to all purchasers in the state, so it isn't specifically for first home buyers. You can also get the concession for all property types, whether it's a new or established property or a vacant block of land. 

The property must be your primary residence for a year within a year from the date of completion. The concession is capped at $35,238 for 2025-2026. The household's total gross income, whether they are named purchasers or not, can't exceed the below income thresholds. With other eligibility requirements listed here. 

The concessional duty for the Home Buyer Concession Scheme applies to the thresholds below:

• Less than or equal to $1,020,000: $0 in payable stamp duty
• More than $1,020,000 but less than $1,455,000: $6.40 for every $100, or part of $100, by which the dutiable value exceeds $1,020,000
• $1,455,000 or more: a flat rate of $4.54 per $100 applied to the total dutiable value, less an amount of $35,238

To work out how much stamp duty you have to pay, you can use Yard's stamp duty calculator. Find out more about the concessions offered by the ACT Government here.

Stamp duty for first home buyers in NT

For first time buyers in NT, there are no specific concessions on stamp duty; however, if you plan to purchase a house and land package in the NT, you may be eligible for an exemption on stamp duty under the House and Land Package Exemption (HLPE).

To work out how much stamp duty you have to pay, you can use Yard's stamp duty calculator. To find out more about the concessions offered by the Northern Territory Government, check their website.

Do you qualify for a stamp duty exemption?

To find out if you qualify for any stamp duty exemptions or concessions as a first home buyer, check the government website of the state or territory you plan to purchase in. If you plan to buy a property in a different state to the one you currently live in, make sure to check the details of stamp duty in the state you're purchasing in.

There are many concessions and exemptions available on stamp duty for first home buyers, which will help you get into the property market sooner. To get a clearer idea of how much stamp duty you will be required to pay as a first home buyer, use Yard's stamp duty calculator.