The First Home Buyers Assistance Scheme
For a new or established home, there's no duty up to $800,000. Between $800,000 and $1 million, the saving is the duty on $800,000, reduced in a straight line to nothing at $1 million. For vacant land to build on, the same works between $350,000 and $450,000. The scheme isn't income tested.
| Price | Full duty | First home, established | First home, new |
|---|---|---|---|
| $650,000 | $23,437 | Nil | Nil |
| $800,000 | $30,187 | Nil | Nil |
| $850,000 | $32,437 | $9,796.75 | $9,796.75 |
| $900,000 | $34,687 | $19,593.50 | $19,593.50 |
| $950,000 | $36,937 | $29,390.25 | $29,390.25 |
| $1,000,000 | $39,187 | $39,187 | $39,187 |
Full duty is what a buyer who'll live in the home pays without the first home concession. Contracts from 1 July 2026.
Who qualifies
You need to be an individual aged 18 or over, an Australian citizen or permanent resident, buying your first home in Australia, and you need to live in it. Revenue NSW sets out the full conditions, including when you must move in and how long you must stay.
Grants and the 5% Deposit Scheme
Grant
$10,000
First Home Owner Grant (New Homes), for brand-new homes up to $600,000.
5% Deposit Scheme price cap
$1,500,000
Capital city and regional centres; $800,000 elsewhere. Buy with a 5% deposit and no lenders mortgage insurance.
The grant is only for brand-new homes, so a first home buyer of an established home gets the duty exemption but no grant.