How the First Home Buyers Assistance Scheme is assessed
Source: Revenue NSW, verified November 2026. Thresholds and conditions change at budget time; the figures here are reviewed each February and July.
What the numbers look like
| Purchase price | Standard transfer duty | Eligible first home buyer pays |
|---|---|---|
| $650,000 | $23,437 | Nil |
| $800,000 | $30,187 | Nil |
| $850,000 | $32,437 | $8,109 |
| $900,000 | $34,687 | $17,344 |
| $950,000 | $36,937 | $27,703 |
| $1,000,000 | $39,187 | $39,187 |
| $1,200,000 | $48,187 | $48,187 |
Any price: the NSW stamp duty calculator applies the same rules and shows the standard duty beside the concession.
The grant is a separate question
The $10,000 First Home Owner (New Homes) Grant is separate and applies only to a new home or a home built on vacant land, each within its own price caps. Eligibility for one does not decide eligibility for the other.
Where the concession meets the lender's assessment
The Commonwealth 5 per cent deposit scheme has its own price caps, which in parts of Sydney sit above the $1 million where the NSW concession ends. A buyer can be inside one scheme and outside the other, and the lender's serviceability test is a third, separate gate. Working out which of the three a particular purchase clears is most of the value a broker adds before an offer is made.
Two short reads go further: why scheme eligibility and serviceability are separate tests, and the borrowing capacity calculator, which works the way an assessor does rather than the way a bank's advertising does.
Questions buyers ask
Do first home buyers pay stamp duty in NSW?
Not on a home valued at $800,000 or less, provided they meet the First Home Buyers Assistance Scheme rules. Between $800,001 and $999,999 duty is reduced on a sliding scale. From $1,000,000 the full amount applies.
Is the NSW first home buyer concession different for new and existing homes?
No. Since 1 July 2023 the same thresholds apply to new and existing homes. Before then new homes had higher thresholds, which is why older articles still quote different figures.
How long do I have to live in the home?
At least 12 continuous months, starting within 12 months of settlement. Renting the property out inside that period means the duty becomes payable.
Can I still get the First Home Owner Grant?
The $10,000 grant is a separate scheme for new homes within its own price caps. You can receive both if you qualify for both, and neither depends on the other.
Does the scheme apply if my partner has owned a home before?
No. If your spouse or de facto partner has owned residential property in Australia, or has received the scheme before, you are not eligible even if they are not on the contract.
What happens to the concession at exactly $1,000,000?
It ends. The concession applies to dutiable values below $1,000,000, so a purchase at $1,000,000 pays full duty. Where a price is negotiated close to the line, that cliff is worth knowing before the contract is exchanged.