First Home Buyers Quick Facts

1. Stamp Duty on Existing or New Homes

Purchase Price

Up to $800,000
$800,000 – 1 million

1 million +

Stamp Duty Payable

$0
Concession reducing scale

Normal Scale

Conditions apply – must live in the dwelling and not rent it out .

2. First Home Owner Grant’s

– $10,000 new home up to $600,000
– Split Land and House up to $750,000
– Conditions apply – must live in the dwelling and not rent it out

3. Home Builder Grant

(running till 31st march 2021)

– $15,000 new build up to $750,000
– $125,000 per annum for individual income or $200,000 per annum for a couple
– Building construction must have started after 4th June 2020
– House and Land Building must start within 3 months of starting contract
– Conditions apply – must live in the dwelling and not rent it out

4. First Home Loan Deposit Scheme (FHLDS)

– 5% deposit and the Government will cover the other 15%
– Home purchase new or existing up to $700,000
– Limited to 10,000 per annum – no guarantees
– Conditions apply – must live in the dwelling and not rent it out