Let us clear up the confusion. When? How much? Am I exempt? Am I entitled to a discount of stamp duty? and am I entitled to $10,000 Grant and when?

From 1 August 2021, these are rules which may apply to you:

*NEW HOME AND EXISTING HOME – First Home Buyer Assistance Scheme

Purchasing a brand new or existing property:

• Valued less than $650,000 you are entitled to an exemption of stamp duty; or   
• Valued between $650,000 to $800,000 you are entitled to a concession (discount) of stamp duty.

Stamp duty assessment must be made within 3 months from the date of exchange or by completion, whichever comes first; or

NEW HOME - First Home Owner’s Grant

If you are purchasing or building a new home at the value of less than $750,000 you are entitled to receive the First Home Owner’s Grant of $10,000 (“the Grant”). 

If you are borrowing funds to assist you with the purchase some Lenders are agreeable to applying on your behalf for the Grant for it to be available on settlement when purchasing the new home. 

*NEW HOME MEANS the home has never been lived in and sold since its build.

We can assist you with your application to receive the Grant.

 Vacant Land

If you are purchasing vacant land:

• Valued less than $350,000 you are entitled to an exemption of stamp duty; or   
• Valued between $350,000 to $450,000 you are entitled to a concession (discount) of stamp duty.

Again, stamp duty assessment must be made within 3 months from the date of exchange or by completion, whichever comes first.

Click here to contact Hellen Dimas for assistance with your purchase plans and to advise you on your entitlements as a first home purchaser.