First Home Benefits For transactions dated on or before 31 December 2011

  • $7,000 First Home Owner Grant

  • Exemptions and concessions on duty under First Home Plus and First Home Plus One on agreements or transfers executed on or before 31 December 2011.

If you are buying or building your first home, you may be eligible for benefits under the First Home Owner Grant Scheme and/or the First Home Plus Scheme.

The First Home Owner Grant Scheme is fully funded by the NSW Government and administered by us. The scheme was established to assist eligible first home owners to purchase their first home by offering a $7,000 grant. The grant applies to residential dwellings only and does not apply to vacant land.

The First Home Plus Scheme is a NSW Government initiative which provides exemptions or concessions on transfer duty for eligible NSW first home buyers. This includes vacant land on which you intend to build your first home.

Note: From 1 January 2012, the First Home Plus Scheme will be replaced by the First Home—New Home Scheme.

There are no income or assets tests to qualify for the benefits.

Business premises, a holiday house or renovations to an existing home do not qualify for first home benefits.

The First Home Owner Grant and the First Home Plus Schemes have Proof of Identity requirements, the details of which are contained in the relevant Application and Lodgement Guides.

First Home Owner Grant

The First Home Owner Grant Scheme is available to people buying or building their first home.

Your eligibility is determined on the facts and circumstances as at the commencement date of the eligible transaction. This is the date of the contract to purchase or build a home or, for an owner builder, the date the foundations commenced to be laid.

To qualify for the First Home Owner Grant, you must meet the following eligibility criteria:

  • Each applicant is a natural person and not a company or trust.

  • At least 1 applicant is a permanent resident or Australian citizen.

  • Each applicant must be at least 18 years of age.

  • All applicants and/or their spouse/de facto have not owned a residential property, jointly, separately or with some other person, in any State or Territory of Australia before July 2000.

  • All applicants and/or their spouse/de facto have not previously owned a residential property jointly, separately or with some other person in any State or Territory of Australia, and occupied that property for a continuous period of at least 6 months.

  • Each applicant has entered into a contract for the purchase of a home or signed a contract to build a home on or after 1 July 2000. In the case of an owner-builder, laying of the foundations commenced on or after 1 July 2000.

  • The total value of the property does not exceed the cap amount for eligible transactions which commenced on or after 1 January 2010. The cap amount is reviewed annually and the cap applicable to your application is determined by the commencement date of the eligible transaction. This is the date of the contract to purchase or build a home or, for an owner builder, the date the laying of foundations commenced.

Eligible transaction commencement date

FromToCap amount
1 January 2011 Onwards $835,000
1 January 2010 31 December 2010 $750,000
1 July 2000 31 December 2009 No cap applicable
  • This is the first time an applicant and/or their spouse/de facto will receive a grant under the First Home Owner Grant Act 2000 in any State or Territory (unless subsequently repaid).

  • At least 1 applicant will occupy the home as their principal place of residence for a continuous period of 6 months, commencing within 12 months of settlement or construction of the home. Where an applicant was a member of the permanent forces of the Australian Defence Force and all applicants were enrolled on the NSW electoral roll, as at the commencement date of the eligible transaction, dated on or after 21 October 2009, then all applicants are exempt from the residence requirement.

How to apply for the First Home Owner Grant

You can apply for the First Home Owner Grant through your financial institution or us. Applications lodged with financial institutions will have the grant available for settlement or for the first draw down on contracts to build.

Applications can only be lodged with us after completion and you are registered on title (if you are purchasing under a ‘Terms Contract’, please contact us for lodgement requirements). Applications must be lodged within 12 months of completion or settlement of your home.

First Home Plus

The First Home Plus Scheme provides eligible purchasers with exemptions on transfer duty on homes valued up to $500,000 and concessions on duty for homes valued between $500,000 and $600,000.

Eligible purchasers buying a vacant block of residential land to build their home on will pay no duty on vacant land valued up to $300,000, and will receive concessions on duty for vacant land valued between $300,000 and $450,000.

To qualify for First Home Plus, you must meet the criteria listed below:

  • The contract and the transfer must be for the purchase of the whole of the property.

  • All purchasers must be ‘eligible purchasers’.

  • At least 1 eligible purchaser must occupy the home as their principal place of residence for a continuous period of 6 months, commencing within 12 months of completion of the agreement. Where an eligible purchaser was a member of the permanent forces of the Australian Defence Force and all purchasers were enrolled on the NSW electoral roll, as at the transaction date, dated on or after 21 October 2009, then all purchasers are exempt from the residence requirement.

  • An ‘eligible purchaser’ is a natural person (i.e. 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 someone else) residential property in Australia other than property owned solely as trustee or executor

    • previously received an exemption or concession under First Home Plus.

Note: If all purchasers are not ‘eligible purchasers’, you may still qualify for a concession under First Home Plus One.

Calculating the concessions on duty

Refer to the First Home Plus tables below for a guide to the concession applicable. You can calculate the exact amount of your concession using the First Home Plus calculator.

Homes

You do not have to pay duty on the purchase of a home up to $500,000. To calculate the First Home Plus concession on a home between $500,000 and $600,000, multiply the purchase price by 0.2249 and subtract $112,450.

First Home Plus – homes example calculations

Purchase price ($) Usual duty ($) First Home Plus duty ($) Savings ($)
250,000 7,240 0 7,240
300,000 8,990 0 8,990
350,000 11,240 0 11,240
400,000 13,490 0 13,490
450,000 15,740 0 15,740
500,000 17,990 0 17,990
525,000 19,115 5,623 13,493
550,000 20,240 11,245 8,995
575,000 21,365 16,808 4,498
600,000 22,490 No discount 0

Vacant land

You do not have to pay duty on the purchase of vacant land up to $300,000.

To calculate the First Home Plus concession on land between $300,000 and $450,000, multiply the purchase price by 0.1049 and then subtract $31,470.

First Home Plus – vacant land example calculations

Purchase price ($)Usual duty ($)First Home Plus duty ($)Savings ($)
100,000 1,990 0 1,990
200,000 5,490 0 5,490
300,000 8,990 0 8,990
340,000 10,790 4,196 6,594
380,000 12,590 8,392 4,198
420,000 14,390 12,588 1,802
450,000 15,740 No discount 0

How to apply for First Home Plus

Submit your First Home Plus application together with your Agreement for Sale/Transfer for stamping by us. Your application must be accompanied by all supporting documents. You must have already exchanged contracts to purchase your first home or vacant land.

First Home Benefits application forms

You can print an application form for both the First Home Owner Grant and First Home Plus, phone and ask to have an application posted, or send an email. Forms are also available from your solicitor or conveyancer.

First Home Plus One

First Home Plus One allows eligible purchasers to buy property with other parties and still receive a concession. To qualify, the eligible purchasers must buy at least 50% of the property. The value limits and other eligibility criteria of First Home Plus apply.

Transfer duty is calculated with reference to the proportion of the property purchased by other parties. However, this interest is disregarded if it is not more than 5%.

The tables below give a guide to the concession applicable. You can calculate the exact amount of your concession using the First Home Plus calculator.

Note: If the first home buyer’s spouse has previously owned a home or received a benefit under First Home Plus, the first home buyer will not be entitled to First Home Plus One, regardless of whether or not the spouse is also a purchaser.

First Home Plus One – homes example calculations

50% acquired by first home buyer 90% acquired by first home buyer
Purchase price ($) Duty ($) Saving ($) Duty ($) Saving ($)
250,000 3,620 3,620 724 6,516
300,000 4,495 4,495 899 8,091
350,000 5,620 5,620 1,124 10,116
400,000 6,745 6,745 1,349 12,141
450,000 7,870 7,870 1,574 14,166
500,000 8,995 8,995 1,799 16,191
525,000 12,369 6,746 6,792 12,143
550,000 15,743 4,498 12,145 8,096
575,000 19,116 2,249 17,317 4,048

First Home Plus One – vacant land example calculations

50% acquired by first home buyer 90% acquired by first home buyer
Purchase price ($) Duty ($) Saving ($) Duty ($) Saving ($)
100,000 995 995 199 1,791
200,000 2,745 2,745 549 4,941
300,000 4,495 4,495 899 8,091
340,000 7,493 3,297 4,855 5,935
380,000 10,491 2,099 8,812 3,788
420,000 13,489 901 12,768 1,622

For First Home Plus One, use the First Home Plus application form.

False claims

There are substantial penalties for knowingly making false or misleading statements in connection with an application for first home benefits. We conduct investigations and compliance checks to ensure the grant and duty exemption/concession are given only to those applicants who are entitled to receive them. We audit claims with current and historical data held by other State and Territory agencies and commercial organisations.

For more information about first home benefits, contact us.

First home owner grant scheme (FHOGS)

Phone 1300 130 624*
Email first.home.benefits@osr.nsw.gov.au

First home - new home

Phone 1300 130 624*
Email duties@osr.nsw.gov.au
Last updated: 6 January 2016