If you are a first home buyer in NSW, you may be eligible for a full exemption or a reduced rate of transfer duty under the First Home Buyers Assistance Scheme.

Eligibility

To be eligible for the First Home Buyers Assistance Scheme:

• the purchase must be for a new or existing home, or vacant land in NSW
• the property value must be within the threshold amounts
• the transfer must be for the whole property
• you must be an individual, (not a company or trust*)
• you must be over 18*
• you and your spouse or partner, must never have owned or co-owned residential property in Australia
• you and your spouse or partner, must never have previously received an exemption or concession under the scheme
• at least one of the first home buyers must be an Australian citizen or permanent resident
• for new or existing homes, you must meet the requirements for living in the property.

*This requirement may be waived upon application. Contact Revenue NSW for more information.

Members of the Australian Defence Force

If you are a member of the permanent forces of the Australian Defence Force when you exchange contracts, you won’t have to meet these residence requirements if you and everyone you’re buying with is on the NSW electoral roll.