How Much Stamp Duty Do First Home Buyers Pay?
Short answer: first home buyers pay no stamp duty up to $800,000 in NSW and $600,000 in Victoria, and none on a new home of any price in Queensland. Above those limits the duty phases back in up to $1 million (NSW), $750,000 (VIC) and $800,000 (QLD established homes).
First home buyer limits by state
| State | No duty up to | Reduced duty up to | Source |
|---|---|---|---|
| New South Wales | $800,000 (vacant land $350,000) | $1,000,000 (land $450,000) | First Home Buyers Assistance Scheme |
| Victoria | $600,000 | $750,000 | First home buyer duty exemption or concession |
| Queensland, established home | about $700,000 | $800,000 | First home concession (from 9 June 2024) |
| Queensland, new home or vacant land | No limit | - | First home (new home) concession, from 1 May 2025 |
Stamp duty at common prices
| Price | NSW first home | NSW standard | VIC first home | VIC standard | QLD first home (established) | QLD home buyer |
|---|---|---|---|---|---|---|
| $500,000 | $0 | $16,687 | $0 | $21,970 * | $0 | $8,750 |
| $600,000 | $0 | $21,187 | $0 | $31,070 | $0 | $12,850 |
| $650,000 | $0 | $23,437 | $11,356.67 | $34,070 | $0 | $15,100 |
| $700,000 | $0 | $25,687 | $24,713.33 | $37,070 | $0 | $17,350 |
| $750,000 | $0 | $27,937 | $40,070 | $40,070 | $10,925 | $19,600 |
| $800,000 | $0 | $30,187 | $43,070 | $43,070 | $21,850 | $21,850 |
| $900,000 | $19,593.50 | $34,687 | $49,070 | $49,070 | $26,350 | $26,350 |
* Victorian price with the principal place of residence concession, which applies up to $550,000. VIC first home figures between $600,000 and $750,000 use the sliding scale. Queensland "home buyer" is the home concession rate.
How the reduced rates work
- NSW: between $800,000 and $1 million the duty rises in a straight line from nothing to the full amount at $1 million ($39,187 at 2026-27 rates). At $900,000 that is half: $19,593.50.
- Victoria: between $600,000 and $750,000 you pay a share of the normal duty that grows from 0% to 100%. At $650,000 it is one third of $34,070.
- Queensland: work out duty at the home concession rate and subtract the first home concession: $17,350 up to $709,999, falling by $1,735 for each $10,000 to nothing at $800,000.
Things to check
- You (and your partner) must never have owned residential property in Australia, and at least one buyer must usually be an Australian citizen or permanent resident.
- You must move in within 12 months and live there for at least 12 months.
- The First Home Owner Grant is a separate payment for new homes and has its own rules.
Run your own numbers in the stamp duty calculator, then see the repayments with the mortgage repayment calculator.
Try the stamp duty calculator (all states)
Enter your own numbers below, or open the full stamp duty calculator (all states) with the formula and more examples.
This guide is general information with example numbers, not financial, tax or building advice. Your costs and results will differ. Terms
Frequently asked questions
Do first home buyers pay stamp duty in NSW?
Not on homes up to $800,000. Between $800,000 and $1 million they pay a reduced amount, and above $1 million the standard rates.
What is the first home buyer stamp duty limit in Victoria?
No duty up to $600,000 and reduced duty up to $750,000.
Do first home buyers pay stamp duty in Queensland?
Not on a new home or vacant land, at any price, for contracts from 1 May 2025. For an established home the first home concession removes duty up to about $700,000 and reduces it up to $800,000.