Agreement for sale
- The items listed below are not links. They indicate where you are in this process.
Start
Eligibility - previous ownership
Eligibility - previous concession
Eligibility - age requirement
Eligibility - Australian citizen or permanent resident
Residency requirement
Type of property
Exemption or concession
Not eligible
Not eligible - under 18 years of age
Proof of Identity requirements
OSR has introduced Proof of Identity requirements to be met by First Home Plus applicants. The Proof of Identity requirements for First Home Plus will be the same as those in place for applicants for First Home Owner Grant Scheme.
Until 19 April 2009, OSR will accept for processing either the current First Home Application form (without Proof of Identity requirements) or the new First Home Application form (with Proof of Identity requirements).
From 20 April 2009, the new First Home application form and proof of identity documents from each of the categories identified in the application form must be provided from each eligible purchaser and their spouse. For a complete list of acceptable documents refer to the First Home Benefits - Proof of Identity Document Factsheet.
Note:
1. If lodging your application with your solicitor/conveyancer or in person with OSR, you will need to provide original documents.
2. If lodging by mail to OSR, you must provide certified copies. OSR will verify these documents with the issuing agencies.
First Home Plus Scheme
The First Home Plus Scheme provides first home buyers with an exemption or concession on transfer and mortgage duty.
The exemption or concession applies to:
agreements for sale
transfers
mortgages, where they are given to assist the financing of a purchase under an eligible agreement for sale or transfer.
The agreement or transfer must be for the acquisition of the whole of the property.
From 1 May 2007 the scheme allows first home buyer/s to purchase property with other parties (equity partners) and still receive a concession. To be eligible for a concession the first home buyer/s must be purchasing at least 50% of the property.
To be eligible for the full concession or exemption the first home buyer/s must be purchasing at least 95% of the property.
Transfer duty is calculated with reference to the proportion of the property purchased by the other parties where that is more than 5% and not more than 50%.
A spouse cannot be an equity partner. That is, a purchaser is ineligible if the purchaser's spouse has previously owned residential property or received a benefit under First Home Plus.
The value limits and other eligibility criteria for First Home Plus still apply.
The exemption or concession applies to the acquisition of an existing dwelling or for vacant residential land on which the purchaser intends to build their first home.
First Home Purchasers must meet the eligibility criteria and residency requirement to receive a First Home Plus exemption or concession.
Companies, partnerships and in general persons acting in a trustee capacity are not eligible to qualify for full exemption or concession as a First Home buyer.
However, a trustee may be eligible if:
the trustee is a guardian for a person under a legal disability, and they are acquiring a property on behalf of the person under the legal disability (provided this person would have otherwise been eligible), or
the trustee is an apparent purchaser under a resulting trust and the beneficiary of that trust would have otherwise been eligible. (For more information on resulting trusts read the topic Transfer to a beneficiary of a resulting trust ).
From 20 June 2006 ownership of other property does not prevent a person from being eligible under the scheme if the other property is or was previously held by the applicant as trustee or executor under a will.
Note: an agreement for sale or transfer will not be eligible if it involves the acquisition of a business or business premises or a holiday home.
The acquisition of a farming property on which a private dwelling is erected, however, may still qualify.
Select the 'start' button and answer the following questions to find out if you qualify for the exemption or concession.
More information
