First Home Plus - Stamp Duty Exemptions

The First Home Plus scheme provides exemptions or concessions on transfer duty and mortgage duty for people who are buying or building their first home in NSW. This includes buying vacant land on which you intend to build your first home.

Eligible first home buyers will receive an exemption on transfer duty and mortgage duty on homes valued up to $500,000 and concessions on duty for homes valued between $500,000 and $600,000.

First home buyers purchasing a vacant block of residential land to build their home on will pay no duty on land valued up to $300,000, and will receive concessions on duty for vacant land valued between $300,000 and $450,000.

For more information on contracts exchanged after 1 July 2004, read the First Home Benefits factsheet.

First Home Plus transfer and mortgage duty exemptions or concessions are available if you are buying or building your first home (valued up to $600,000) or buying vacant land on which you intend to build your home (valued up to $450,000), and who meet the following eligibility criteria:

Each applicant is a natural person and not a company or trust.

At least one applicant is a permanent resident or Australian citizen.

Each applicant must be at least 18 years of age.

None of the applicants or their spouse/de facto have ever owned a residential property in any State or Territory within Australia (either solely or with someone else). Residential property also includes investment properties.

None of the applicants or their spouse/de facto have previously been party to an approved First Home Plus application.

All applicants buying the property must occupy the home as their principal place of residence for a continuous period of six months, commencing within 12 months of completion of the agreement.

First Home Plus One was introduced on the 1 May 2007, and allows eligible purchasers to buy a property with other parties and still receive a concession.  For further details refer to the First Home Benefits factsheet.

We are located at:

169 Croudace Street, New Lambton  NSW  2305  Australia

To assist you in locating us CLICK HERE for instructions.

Tel: +61 (02)  4952 9910 or 1800 775555
Fax: +61 (02) 4952 9925

Email: Mortgage Exchange email contact