About concessions for homes
When you buy or acquire a residence or vacant land on which you intend to build your first home, you may be able to claim a concession that reduces the amount of transfer duty you have to pay.
If the property you acquire will be your first home and you meet certain eligibility requirements, the duty may be reduced to the point where you don’t have to pay anything, depending on the value of the property.
The three concession types are:
- home concession—if you’re acquiring a residence that you intend to occupy as your home
- first home concession—if you’re acquiring a residence that you intend to occupy as your first home
- first home vacant land concession—if you're acquiring vacant land where you intend to build and occupy your first home.
There are no additional concessions or exemptions for seniors card or pensioner concession card holders.
Use our home concession eligibility tester to find out if you may be eligible for a concession.
To qualify for a concession, you must be legally acquiring the property as an individual.
Companies are not eligible to claim a concession, except when they are acting as a corporate trustee.
Trustees are not eligible for the concessions unless all the following apply:
- the transferees are trustees of a trust (other than a discretionary or unit trust)
- the beneficiaries are individuals, all of whom are under a legal disability
- the residence will be the home of all the beneficiaries.
You do not have to be an Australian citizen or permanent resident to claim a concession. However, additional foreign acquirer duty may apply if you are a foreign person.
Mixed concession claims
Not every person acquiring the property needs to qualify for a concession or apply for the same concession.
In some cases, people will have eligibility for different concessions or no eligibility. For example, a couple can buy their home and one person can claim a first home concession and the other a home concession. In these circumstances, all the various interests and any concessions that apply are used to calculate the total duty payable.
The calculations can be complex, so use the transfer duty calculator to see what you might pay when there are mixed concession claims.
Queensland First Home Owners' Grant
If you’re a first home owner buying or building a new home, you may also be eligible to claim the Queensland First Home Owners' Grant.
You’re allowed to claim both the grant and a transfer duty concession, but each has its own eligibility requirements and some cancel out others. For example, the grant allows you to rent out a room while using it as your residence, but this would disqualify you for both the first home concessions.