New homes and land: no duty at any price
For contracts from 1 May 2025, a first home buyer pays no transfer duty on a brand-new home that's never been lived in, or on vacant land to build a home on, whatever the price. With land, you need to build and move in within two years.
Established homes: nil to $700,000
On an established home, the first home concession is taken off the home concession duty. Up to $700,000 it wipes out the duty entirely. Above that it steps down every $10,000:
| Price | Concession |
|---|---|
| Up to $700,000 | All duty |
| $700,000 to under $710,000 | $17,350 |
| $710,000 to under $720,000 | $15,615 |
| $720,000 to under $730,000 | $13,880 |
| $730,000 to under $740,000 | $12,145 |
| $740,000 to under $750,000 | $10,410 |
| $750,000 to under $760,000 | $8,675 |
| $760,000 to under $770,000 | $6,940 |
| $770,000 to under $780,000 | $5,205 |
| $780,000 to under $790,000 | $3,470 |
| $790,000 to under $800,000 | $1,735 |
| $800,000 or more | None |
| Price | Full duty | First home, established | First home, new |
|---|---|---|---|
| $650,000 | $15,100 | Nil | Nil |
| $700,000 | $17,350 | Nil | Nil |
| $750,000 | $19,600 | $10,925 | Nil |
| $799,000 | $21,805 | $20,070 | Nil |
| $800,000 | $21,850 | $21,850 | Nil |
| $1,000,000 | $30,850 | $30,850 | Nil |
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 buying your first home and live in it. From 1 August 2026 you also need to be an Australian citizen, a permanent resident or a specified foreign retiree. QRO sets out the full conditions, including when you must move in.
Grants and the 5% Deposit Scheme
Grant
$30,000
First Home Owner Grant, for brand-new homes under $750,000.
5% Deposit Scheme price cap
$1,000,000
Capital city and regional centres; $700,000 elsewhere. Buy with a 5% deposit and no lenders mortgage insurance.