First Home Plus

First Home Plus Plus Scheme was replaced by the First Home – New Home scheme on 1 January 2012..

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 the First Home Plus scheme, you must meet the following criteria:

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

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 16,868 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 Form (ODA 12) (PDF) together with your Agreement for Sale/Transfer. Your application must be accompanied by all supporting documents. You must have already exchanged contracts to purchase your first home or vacant land.

Last updated: 10 May 2016