If you are buying or building your first home in NSW, you may be eligible for state based concessions under the First Home Plus or the First Home Plus One scheme.
Under the First Home Plus Scheme, eligible first home buyers receive stamp duty exemptions on homes valued up to $500,000 and stamp duty concessions on homes valued between $500,000 and $600,000.
Eligible purchasers buying a vacant block to build their first home on will pay no duty on vacant land up to $300,000, and will receive stamp duty concessions on vacant land valued between $300,000 and $450,000.
First Home Plus Application Help
To find out how much you are entitled to under the First Home Plus Scheme or to get help with your first home buyers grant, get your local mortgage broker to help you. Simply call 13 LOAN (+61 2 9249 3739 direct) or fill in the form on this page and we will contact you shortly.
First Home Plus Eligibility
To qualify for the First Home Plus scheme, you must meet the criteria below:
- The contract and the transfer must be for the purchase of the whole property.
- All purchasers must be ‘eligible purchasers’
- At least one eligible purchaser 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.
- An ‘eligible purchaser’ is a natural person (ie not a company or trust) at least 18 years of age who has not, and whose spouse/ de facto has not:
- At any time owned (either solely or with some one else) residential property in Australia other than property owned solely as trustee or executor
- Previously received an exemption or concession under First Home Plus.
If all purchasers are not eligible, you may still qualify for the First Home Plus One
First Home Plus One
First Home Plus One allows eligible first home buyers to purchase a property with other parties and still receive a concession. To qualify, the eligible purchasers must buy at least 50 per cent of the property. The value limits and other eligibility criteria of the First Home Plus Scheme apply.
To find out if you qualify for the First Home Plus One scheme or to determine how much you are entitled to under the scheme, complete our brief mortgage broker request form or call us on 13 LOAN.
NSW Office of State Revenue
In NSW, the first home buyers grant, the first home plus and new home buyer grant are fully funded and administered by the NSW Office of State Revenue. To contact the NSW OSR call, 1300 130 624.
