NSW Stamp Duty for First Home Buyers: What You May Not Need to Pay
Stamp duty by state or territory
First Home Buyers Assistance Scheme
Full transfer duty exemption for eligible new or existing homes up to $800,000, with a concessional rate above $800,000 and below $1 million.
Thresholds
- Home: exempt up to $800,000.
- Home: concessional rate above $800,000 and below $1 million.
- Vacant land: exempt up to $350,000; concession above $350,000 and below $450,000.
Eligibility
- New or existing home, or vacant land, in NSW.
- Buyer is an individual, generally over 18.
- Buyer and spouse or partner have not previously owned residential property in Australia.
- At least one buyer is an Australian citizen or permanent resident.
- Residence requirement applies for home purchases.
Policy settings can change with state budgets and revenue office updates. Confirm the current rules with the relevant state or territory revenue office, your conveyancer, or broker before signing or exchanging a contract.
A practical guide to NSW first home buyer transfer duty concessions, including the $800,000 exemption threshold and the phase-out up to $1 million.
Eligibility - NSW First Home Buyers Assistance Scheme
- You are buying a new or existing home, or vacant land, in NSW.
- The property value is within the scheme thresholds: full exemption up to $800,000 for homes, concession above $800,000 and below $1 million.
- For vacant land, full exemption applies up to $350,000, with a concession above $350,000 and below $450,000.
- You are an individual buyer, generally at least 18 years old, not a company or trust.
- You and your spouse or partner have not previously owned or co-owned residential property in Australia.
- You and your spouse or partner have not previously received this first home buyer exemption or concession.
- At least one first home buyer is an Australian citizen or permanent resident.
- For a home purchase, you satisfy the residence requirement, including moving in within 12 months and living there for at least 12 continuous months.
What stamp duty means
Stamp duty, also called transfer duty in NSW, is one of the largest upfront costs when buying property. For first home buyers, the key question is whether the First Home Buyers Assistance Scheme can reduce or remove that cost.
The NSW thresholds to check first
For contracts exchanged on or after 1 July 2023, eligible first home buyers can apply for a full exemption on new or existing homes valued up to $800,000. A concessional rate can apply when the value is over $800,000 and less than $1 million.
Do not only check the purchase price
Eligibility depends on the dutiable value and the exact transaction. Your residency, prior ownership history, partner or spouse ownership history, and whether you satisfy the residence requirement can all affect the result.
How to use this in your buying plan
Before you make an offer, model both scenarios: one where you qualify for the concession, and one where you do not. That makes your cash-to-complete number clearer and helps avoid surprises before exchange.
Key points
- In NSW, eligible first home buyers may receive a full transfer duty exemption for homes up to $800,000.
- Homes over $800,000 and under $1 million may qualify for a concessional transfer duty rate.
- You usually need to move in within 12 months of settlement and live there for at least 12 continuous months.
Sources
General information only. This content is educational and does not constitute personal credit, legal, tax, or financial advice. Policy details were last checked on 4 May 2026 unless a state or territory tab says otherwise.
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