What is the first home buyer stamp duty exemption in SA 2026?
Yes, South Australia offers a stamp duty exemption for first home buyers purchasing *new homes* from 7 March 2024. It applies to properties up to $650,000, with a concessional rate for new homes valued between $650,000 and $700,000.
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How it works in practice
Understanding the SA First Home Buyer Stamp Duty Exemption
South Australia significantly changed its first home buyer assistance policies. From 7 March 2024, the state introduced a new stamp duty exemption and concession specifically for first home buyers acquiring new homes. This means that if you are eligible and purchase a newly constructed property, you may not have to pay stamp duty, or you may receive a concessional rate.
This initiative aims to stimulate the construction sector and make homeownership more accessible for first-time buyers in the state. The exemption fully waives stamp duty for eligible new homes valued up to $650,000. For new homes valued between $650,000 and $700,000, a concessional rate applies, providing partial relief from stamp duty costs.
Important exceptions
This exemption applies strictly to the purchase of new homes, meaning properties that have not been previously occupied or sold as a place of residence. The full exemption is limited to new homes valued up to $650,000, and a concession applies only up to $700,000. You must be a first home buyer, at least 18 years old, and you or your spouse must not have previously owned property in Australia. The property must be your principal place of residence, and you must move into it within 12 months of settlement and reside there for at least six continuous months.
What you should do now
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Verify your eligibility as a first home buyer and ensure you meet the residency requirements for South Australia.
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Research and identify new homes within the $650,000 (for full exemption) or up to $700,000 (for concession) price limits.
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Seek pre-approval for your home loan to understand your borrowing capacity and accelerate the purchasing process.
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Apply for the First Home Buyer Duty Exemption or Concession through RevenueSA, usually with assistance from your conveyancer or solicitor during settlement.
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Consult with a financial advisor or conveyancer specializing in South Australian property law to ensure all criteria are met and to navigate the application process smoothly.
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