State

First home buyer exemptions

Stamp duty on $300,000 property

NSW

Up to $500,000:  Exempt if "new unlived-in property" otherwise no stamp duty exemptions apply.

First Home Plus duty concessions reduce between $500,000 & $600,000
Over $600,000: No exemptions

To calculate First Home plus concession on house between value of $500,000 and $600,000 multiply purchase price by 0.2249 and then subtract $112,450.

Land up to $300,000 exempt. To calculate First Home Plus concession on land between $300,000 and $450,000, multiply the purchase price by 0.1049 and then subtract $31,470. Land over $450,000 no exemptions

Nil

VIC

$1100 bonus for new homes; $2000 bonus for established homes; additional $4500 bonus for newly constructed homes in regional Victoria.

Additionally for purchases up to $500,000, the buyer may receive a duty concession for a principal place of residence. For homes priced between $115,000 and $400,000, the duty payable = $2560 + 5% of amount > $115,000. For homes priced between $400,000 and $500,000, duty payable = $16,180 + 6% of amount > $400,000.

Concessions also available to pensioners and concession cardholders.

$11,370.00
(less $5000 if a new home in metropolitan Victoria OR less $8000 if a new home in regional Victoria OR less $3000 if an established home)

QLD

FHBs exempt up to $500,000 from September 1, 2008.
First Home Transfer Duty Concession: Up to $329,999 = $3,200. Concession then decreases $200 for every $10,000 added to price of property up to $469,999 = $400. Concession then decreases $100 per $10,000 added to price of property until $500,000.
No concession available if price of property exceeds $500,000

Nil

SA

A First Home Buyer Grant of $4,000 available for First Home purchases with a value of up to $400,000 and phases out for property with values between $400,000 and $450,000 by $8 for every $100 in excess of $400,000.
The FHBG is in addition to the $7,000 First Home Owner Grant.

$11,330.00

WA

FHBs exempt up to $500,000: $500,001-$600,000 $26.10 per $100 above $500,000. No exemptions on property above $600,000

Purchases of vacant land: $0-$300,000 $0; $300,001-$400,000 $15.70 per $100 above $300,000. No exemptions on vacant land above $300,000.

Nil

ACT

Home Buyer Concession Scheme (not just FHB) available to home buyers between 1 July, and 31 December 2009. For developed property less than $339,500, $20; $339,501 to $415,000, $20.95 per $100 above $339,501; No concession above $415,000.
For vacant land less than $189,000, $20; $189,001 to $229,400, $16.50 per $100 above $189,000; Above $229,400 no concessions.

$9,500
Or if eligible for HBCS:
$20

TAS

First home buyers duty rebate of $4,000 up to a value of $350,000
> $350,000:  No concession

$5,550.00

NT

First home buyers exempt up to $385,000.
Lower concession also available on duty payable on principal place of residence.

Nil