As the end of the 2018 financial year is already here, it is a good idea for first home buyers to refresh themselves with what your State Government is offering in terms of grants, exemptions & concessions. Whilst only a handful of State Governments have made changes, we have summarised each state’s current (effective 1 July 2018) First Home Owner Grant (FHOG) and stamp duty assistance measures for aspiring first home buyers – if you need any further clarification, be sure to book your free FHBA Discovery Session with a first home buyer expert, who can guide or provide advice on a range of first home buyer questions:
Looking for up to date information on the incentives available in your state? Click here for the current data for your state.
Australian Captial Territory (ACT)
| FHOG | Remains at $7,000 and is only applicable for purchases or construction of new homes. Payment of the First Home Owner Grant will end for transactions entered into after 30 June 2019. |
|---|---|
| Stamp Duty Exemption |
NIL duty is payable for purchases of new homes under $470,000 |
| Stamp Duty Concession |
Duty discounts apply for purchases of new homes between $470,000 and $607,000 |
| Eligibility Criteria |
Click here to check if you are eligible |
New South Wales (NSW)
| FHOG | Remains at $10,000 for builders of new homes up to $750,000 and purchasers of new homes up to $600,000 |
|---|---|
| Stamp Duty Exemption | No stamp duty for eligible first home buyers who purchase a new or existing dwelling under $650,000 |
| Stamp Duty Concession | Discounted stamp duty for eligible first home buyers who purchase a new or existing dwelling between the value of $650,000 and $800,000 |
| Eligibility Criteria | Click here to check if you are eligible |
Northern Territory (NT)
| FHOG | Remains at $26,000 and is only applicable for purchases or construction of new homes (no threshold applies). You can also get up to $2,000 under the household goods grant, helping you buy household goods.
If you buy an established property you can get up to $10,000 under the home renovation grant. |
|---|---|
| Stamp Duty Exemption | No stamp duty for eligible first home buyers who purchase an existing dwelling under $500,000 with a maximum discount of $23,928 |
| Stamp Duty Concession | Discounted stamp duty for eligible first home buyers who purchase a new or existing dwelling between the value of $500,000 and $650,000 |
| Eligibility Criteria | Click here to check if you are eligible |
Queensland (QLD)
| FHOG | Reduces to $15,000 for builders or purchasers of new homes up to $750,000 |
|---|---|
| Stamp Duty Exemption | No stamp duty for eligible first home buyers who purchase a new or existing dwelling under $505,000 |
| Stamp Duty Concession | Discounted stamp duty for eligible first home buyers who purchase a new or existing dwelling between the value of $505,000 and $550,000 |
| Eligibility Criteria | Click here to check if you are eligible |
Determine if you have saved enough to buy your first home in your State now!
South Australia (SA)
| FHOG | Remains at $15,000 for builders or purchasers of new homes up to $575,000 |
|---|---|
| Stamp Duty Exemption | There are currently no stamp duty exemptions for SA first home buyers |
| Stamp Duty Concession | A partial stamp duty concession for off-the-plan apartments purchased in a defined area within the Adelaide CBD has been abolished from 30 June 2018 |
| Eligibility Criteria | Click here to check if you are eligible |
Tasmania (TAS)
| FHOG | Remains at $20,000 after the Tasmanian Government extended the boosted FHOG again this year for one year, from 1 July 2018 to 30 June 2019. |
|---|---|
| Stamp Duty Exemption | There are currently no stamp duty exemptions for TAS first home buyers |
| Stamp Duty Concession | The TAS Government is providing a 50% concession on Stamp (Property Transfer) Duty for first home buyers buying established homes with a property value of $400 000 or lower, for properties settled between 07 February 2018 to 07 February 2019 |
| Eligibility Criteria | Click here to check if you are eligible |
Victoria (VIC)
| FHOG | Metropolitan Victoria: The grant remains at $10,000 for building or purchasing a new house/townhouse/apartment up to $750,000 Regional Victoria: First home owner grant remains at $20,000 for new homes only, up to $750,000 |
|---|---|
| Stamp Duty Exemption | No stamp duty for eligible first home buyers who purchase a new or existing dwelling under $600,000 |
| Stamp Duty Concession | Discounted stamp duty for eligible first home buyers who purchase a new or existing dwelling between the value of $600,000 and $750,000 |
| Eligibility Criteria | Click here to check if you are eligible |
Metropolitian (Melbourne) FHB’s
Regional VIC FHB’s
Western Australia (WA)
| FHOG | Remains at $10,000 for purchases up to $750,000 or $1,000,000 depending on which part of WA you are purchasing your first home – click below for more details |
|---|---|
| Stamp Duty Exemption | No stamp duty for eligible first home buyers who purchase a new or existing dwelling under $430,000 |
| Stamp Duty Concession | Discounted stamp duty for eligible first home buyers who purchase a new or existing dwelling between the value of $430,001 and $530,000 |
| Eligibility Criteria | Click here to check if you are eligible |
Could there be any other first home buyer incentives I am eligible for?
Stay tuned for a new announcement from FHBA in relation to an assistance program providing even more assistance for first home buyers looking to buy brand new homes. We are excited to share this with you over the next few weeks!
First home buyers should also be aware that some governments offer other first home buyer assistance programs and incentives, such as shared equity schemes. Your FHBA Coach will be able to go through what you may be eligible for in your area in your FHBA Discovery Session.
Who can answer my questions?
Got a question on the FHOG or other concessions in your state, or perhaps another question in relation to buying your first home / starting your first home buyer journey? Get your questions answered by an FHBA Coach!
Written By,
First Home Buyers Australia
