Buying your first home is a massive milestone — and a massive expense. Between the deposit, legal fees, inspections, and moving costs, it all adds up fast. But there’s one cost many first-home buyers don’t realise they might avoid entirely; stamp duty.
Here’s what you need to know to potentially reduce upfront costs, depending on your eligibility and local rules.
What Is Stamp Duty, and Why Is It So Expensive?
Stamp duty (also called transfer duty) is a state government tax you pay when you buy property. It’s calculated based on the price of the home, and it can be a significant cost to property purchasing.
Many states and territories offer concessions or exemptions for eligible first-home buyers. But each state’s rules differ, and they change more often than you’d think.
Stamp Duty Exemptions by State (A Quick Taste)
NSW: No stamp duty on homes up to $800,000, with discounts up to $1 million.VIC: No duty for homes under $600,000; reduced duty up to $750,000.QLD: From 1 May 2025, full exemption for homes under $700,000; new builds have no cap.SA: Zero stamp duty on new builds and off-the-plan purchases — regardless of price.TAS: No duty on established homes up to $750,000 — huge savings for most first-home buyers.
Even a partial discount can reduce upfront costs, depending on the property price and state rules. But there are eligibility requirements; like price caps, living in the home, or being a first-time buyer, and some concessions are applied automatically, while others need to be claimed during settlement.
How Stamp Duty Concessions Can Reduce Your Upfront Costs
Missing out on stamp duty relief is often a paperwork or timing issue, not a matter of eligibility. That’s the painful part. Many buyers simply don’t know what they qualify for or assume it’s too complicated to apply.
That’s why we’ve created a free guide for first-home buyers, including:
- A state-by-state stamp duty concession breakdown
- Live links to eligibility checkers and calculators
- A checklist of useful questions to discuss with your conveyancer or relevant state revenue office
Download the Free HVCO First Home Buyer Guide
You may be eligible for certain concessions or exemptions, depending on your circumstances and state rules. Our free e-book walks you through the grants, schemes, and concessions designed to help you get the keys to your first home sooner (and with fewer costs).
- Stamp duty checklists
- Live links to apply
- Clear steps from deposit to settlement
Download the First Home Buyer Guide now and understand whether any concessions might apply to your situation. Your future self (and your bank account) will thank you.
