What is the first home buyer stamp duty exemption in NSW 2026?
Yes, the First Home Buyer Assistance Scheme in NSW is expected to continue in 2026. Eligible first home buyers can receive a full stamp duty exemption on homes up to $800,000 and concessional rates for homes between $800,000 and $1,000,000.
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How it works in practice
First Home Buyer Assistance Scheme (FHBAS)
In New South Wales, the First Home Buyer Assistance Scheme (FHBAS) provides significant relief from stamp duty (transfer duty) for eligible first home buyers. This scheme is currently in place and, unless new legislation is introduced, is expected to extend into 2026, offering crucial support for purchasing a first home.
Eligibility and Thresholds
Under the FHBAS, you can receive a full exemption from transfer duty when purchasing a new or existing home valued up to $800,000. For homes purchased between $800,000 and $1,000,000, a concessional rate of stamp duty applies, meaning you pay a reduced amount rather than the full rate. Similar exemptions and concessions exist for vacant land where you plan to build your first home, with different value thresholds. To be eligible, buyers must be individuals, over 18, Australian citizens or permanent residents, and have not previously owned property in Australia. You must also move into the property within 12 months of settlement and reside there for at least six continuous months.
Important exceptions
The exemption or concession will not apply if the property's value exceeds the upper threshold ($1,000,000 for homes, $450,000 for vacant land). You or your spouse/partner must not have previously owned property in Australia. You must be an Australian citizen or permanent resident to qualify. Failure to occupy the property as your principal place of residence for at least six continuous months within 12 months of settlement will also disqualify you. Only individuals are eligible, not companies or trusts.
What you should do now
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Verify your eligibility criteria, ensuring you meet age, residency, and prior ownership requirements.
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Research current property values in NSW to understand the exemption and concessional thresholds.
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Consult the official Revenue NSW website for the most up-to-date scheme details and application forms.
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Seek independent financial and legal advice to understand the implications for your specific situation.
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Complete and submit the necessary application forms when purchasing your first home to claim the exemption or concession.
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