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First home concession

Eligibility

You can claim a first home concession if you:

  • have never held an interest in residential land anywhere in the world
  • have never claimed the first home vacant land concession
  • are buying a home valued less than $550,000—though you can still buy a home as a first home buyer valued more than $550,000, you cannot claim the first home concession. However, the home concession rate will still apply.
  • will live in the home as your principal place of residence
  • are at least 18 years of age (though we may waive this requirement in special circumstances).

The first home concession is calculated at the home concession rate minus the first home concession amount. See the home concession rates.

Use our home concession eligibility tester to find out if you are eligible to claim a concession.

You can also use the transfer duty estimator to find out how much duty you may have to pay.

Note: The concession doesn’t apply to any part of the land that’s used for non-residential purposes. Read the public ruling on the residential purposes for the transfer duty concession for homes and first homes (DA087.1).

Example

Dutiable value on home

$530,000

Step 1: Calculate the home concession amount 

Concessional transfer duty on first $350,000

$3,500

Transfer duty on balance ($180,000)

$6,300

Home concession

$9,800

Step 2: Deduct the first home concession amount 

Concession for home valued $530,000 to $534,999.99

$3,500

Total transfer duty

$6,300

(Without the first home concession, the transfer duty would be $16,975.)

How to claim

Complete a Claim for home or first home transfer duty concession (Form D2.1) and include it with your documents when lodging them for stamping.

Read more about lodging and stamping your documents.

Alternatively, if you’re unsure that you meet the concession requirements, you can pay duty at the full rate when your documents are assessed and then claim the concession later if you have met, or will meet, the requirements.

We will reassess your duty at the concessional rate and refund the balance of your original payment. Find out about applying for a reassessment.

Obligations after you claim

After you claim this concession, you must:

  • occupy the home as your principal place of residence within 1 year of the transfer date
  • not dispose of part or all of the property before moving in or within 1 year of the date you move in.

If you don’t meet these requirements, you must lodge documents with us for reassessment. Read about common reasons for reassessment to find out more about a reassessment of your transfer duty concession and what documents you need to lodge.

After a reassessment, you may have to pay a transfer duty liability. You may also have to pay unpaid tax interest and penalty tax, depending on your circumstances.

Transfer duty calculator

Use our calculator to find out how much transfer duty you may have to pay. It can also calculate the duty you paid on a transaction where previous rates were used.

Contact

For transfer duty enquiries:

  • call 1300 300 734 (Australia) or
    +61 7 3227 6044 (overseas)
  • send an email using our online enquiry form.
Licence
Creative Commons Attribution 3.0 Australia (CC BY 3.0)
Last updated:
22 March 2017
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