This article sets out how the scheme works, what the thresholds are and who qualifies
Current as of June 2026· Figures sourced from Revenue NSW
For most first home buyers in NSW, they will be exempt from paying any stamp duty, thanks to the First Home Buyer Assistance Scheme (FHBAS). Whether you are required to pay any stamp duty at all will depend on your purchase price. Savings of up to $30,000 can make the difference between becoming a homeowner sooner than you expected.
This article sets out how the scheme works, what the thresholds are, who qualifies, and what is required before you take ownership of your first home.
Quick answer Most first home buyers in NSW pay no stamp duty. Under the First Home Buyer Assistance Scheme (FHBAS), for new and existing homes:
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The FHBAS provides eligible first home buyers with a full exemption for those who purchase a property under $800,000 in NSW. This is not a rebate that you must pay for and then apply for a rebate, no duty is assessed at settlement at all, which means the money never leaves your account in the first place. For a purchase of $799,900, that is a saving of close to $30,000.
The scheme is managed through Revenue NSW, and your conveyancer lodges the application as part of the settlement process. You don’t need to navigate the portal yourself or make the application, Impero Conveyancing will do that all for you.
The 2026 First Home Buyer Assistance Scheme thresholds are set out below.
| Property type | Full exemption (pay $0) | Concessional rate |
|---|---|---|
| New & existing homes | Up to $800,000 | $800,001 – $999,999 |
| Vacant land (to build) | Up to $350,000 | $350,001 – $449,999 |
The concessional rate is not a flat discount. It scales with the purchase price. The rate of duty increases as the purchase price increases up to $1,000,000.
Vacant land note: if you are buying land to build your first home, the same residency obligations that apply to home purchases apply once the build is complete.
Seeing the actual dollar difference makes it much easier to digest. The table below shows how stamp duty plays out for first home buyers in NSW at four common price points, based on Revenue NSW’s published transfer duty rates for 2025-26.
| Purchase price | First home buyer pays | Standard buyer pays | Your saving |
|---|---|---|---|
| $750,000 | $0 | $28,162 | $28,162 |
| $850,000 | $9,853* | $32,662 | $22,809* |
| $950,000 | $29,559* | $37,162 | $7,603* |
| $1,050,000 | $41,662 | $41,662 | $0 |
*Concessional figures are calculated on the FHBAS proportional sliding scale and are indicative. Confirm the exact concessional amount with Revenue NSW’s transfer duty calculator before relying on it for financial planning – the precise figure can vary slightly from the pro-rata estimate.
These figures are stamp duty only. They do not include registration fees, mortgage registration, or other charges. Always verify your exact liability with Revenue NSW or your conveyancer before relying on an estimate.
The main eligibility rules are:
The scheme applies to individuals only, purchases made in company or trust names are not eligible for the scheme. If you are buying with a partner, you must both meet the criteria in order to receive the exemption or concession on the total purchase price.
If you are claiming under the First Home Buyer Assistance Scheme, at least one eligible buyer must move into the property within 12 months of settlement and live there as their principal place of residence for a minimum of 12 continuous months. Revenue NSW actively monitors compliance. Failing to meet the residency requirement can result in the duty being claimed back along with possible penalties.
If you are buying purely as an investment, or rent it out first and move in down the track, the FHBAS exemption will not apply. Ensure your plans to reside in the property are finalised before you sign a contract.
The FHBAS application is made by way of completing a form and providing required documentation. Each applicant completes the form, makes the declaration and provides the relevant identity documents.
When engaging Impero Conveyancing for your purchase, we prepare and lodge all of this on your behalf. You supply the documents and sign what is needed. We handle the Revenue NSW submission as part of the standard settlement workflow.
The FHBAS application is lodged after contracts are exchanged, not before signing. Your conveyancer submits the paperwork so Revenue NSW assesses the correct duty amount well before settlement day. For off-the-plan purchases where the build is not yet complete, any duty payable can be deferred for up to 15 months from the date of the Contract.
Engaging your conveyancer early, ideally before you even exchange contracts, means the exemption is structured correctly from the start. There is no scrambling to understand the requirements and understand obligations in the lead-up to settlement, and no risk of the application being lodged late or incompletely. At Impero Conveyancing, this is a standard part of what the team handles for every first home buyer, drawing on over 50 years of combined experience in NSW property transactions.
In most cases, no. Eligible first home buyers pay $0 stamp duty on new and existing homes valued up to $800,000 under the First Home Buyer Assistance Scheme. Between $800,001 and $999,999 a reduced concessional rate applies, and at $1,000,000 or above full standard transfer duty is payable.
You move from a full exemption into the concessional band. You will not lose the entire exemption, the concession scales down gradually as the price rises toward $1,000,000.
On the FHBAS proportional sliding scale, an eligible first home buyer pays an estimated $8,402, compared with $33,608 for a standard buyer, a saving of around $25,000.
No. At least one eligible buyer must move in within 12 months of settlement and live there as their principal place of residence for at least 12 continuous months. Investment purchases do not qualify.
Your conveyancer or solicitor prepares and lodges it with Revenue NSW as part of the settlement process. You supply identity documents and sign the declaration with your conveyancer.
Most first home buyers in NSW will not pay a cent in stamp duty. If you are a First Home Buyer, get the full picture of your buying costs through Impero Conveyancing’s free home buying cost calculator before you sign anything – it takes a few minutes and gives you a clear view of your real duty liability alongside other purchase costs. Engage a conveyancer early. Knowing what to expect and what is required long before you sign a Contract will help to ensure your purchase runs without surprises. The Impero Conveyancing team works with first home buyers across Newcastle, Lake Macquarie, the Hunter Valley, and all of NSW every day. Reach out and chat to the team today.
Thresholds and rates sourced from Revenue NSW (First Home Buyers Assistance Scheme; Transfer Duty), current for the 2025–26 financial year. Dollar figures are estimates based on Revenue NSW’s published transfer duty rates and are transfer duty only. This article is general information, not legal or financial advice. Verify your exact liability with Revenue NSW or a licensed conveyancer before making decisions.
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