First Home Owner Rate of Duty
This information applies to documents and transaction entered into on or after 1 July 2008, otherwise please refer to Stamp Duty Rate.
When a home buyer is eligible for the First Home Owner Grant, a concessional rate of transfer duty will apply if the value of the dutiable property is below certain thresholds.
The First Home Owner Rate of Duty applies to a dutiable transaction with a dutiable value of up to $600,000 for a house and land, or $400,000 for vacant land.
If the property includes a home
Dutiable Value
|
Rate of Duty
|
$0 - $500,000
|
Nil
|
$500,000 - $600,000
|
$22.51 per $100 or part of $100 above $500,000
|
For vacant land
Dutiable Value
|
Rate of Duty
|
$0 - $300,000
|
Nil
|
$300,000 - $400,000
|
$13.01 per $100 or part of $100 above $300,000
|
An application form to claim the First Home Owner Rate of Duty will be mailed to you with your grant approval letter.
Where vacant land is bought, duty will initially be charged at the general rate. Once a house is built on the land that is eligible for the First Home Owner Grant, a refund will be available, on application, once the grant is issued.
If you are gifted a home, and are otherwise eligible for the First Home Owner Grant, the concessional rate of duty still applies. An application can be made using the First Home Owner Rate for Gifted Homes Application Form.
All applications must be made within 12 months of the completion date, or within 3 months of the date the Grant is issued, whichever is later.
Shared Home Ownership Scheme arrangements (where Department of Housing contributes to the ownership) are also covered in this concession.
More information is available in our First Home Owner Rate of Duty Fact Sheet