Eligibility for NSW first home buyer stamp duty relief comes down to price, prior ownership, residency and citizenship, and a spouse rule that catches more buyers out than any other condition.
The First Home Buyers Assistance Scheme can be worth tens of thousands of dollars, but the eligibility rules are stricter than most buyers expect, and a single missed condition can mean losing the concession entirely.
At least one buyer must be an Australian citizen or permanent resident. Neither you nor your spouse or de facto partner can have previously owned residential property in Australia, and neither of you can have received this concession before, even if your partner isn't going to be on the title of the new purchase.
This is the condition that catches the most buyers out: if your partner has ever owned or co-owned residential property anywhere in Australia, you're generally ineligible for the scheme, regardless of whether they're buying with you this time. It's worth checking this early, before you factor the saving into your budget.
You must move into the property within 12 months of settlement and live there as your principal place of residence for a continuous period, typically 12 months for the stamp duty concession. ADF members on the NSW electoral roll are exempt from the residency requirement in recognition of posting requirements.
If you fail to move in on time or don't live there long enough, Revenue NSW can require you to repay the stamp duty saved, plus potential penalties. It's worth being realistic about your plans, including any chance you might rent the property out, before relying on the concession.
No, NSW first home buyer stamp duty relief is based on property value and ownership history, not income, unlike some federal schemes.
Generally yes, the test is about residential property owned in Australia, though it's worth confirming your specific situation, especially with more complex ownership histories.
Each buyer on title needs to independently meet the eligibility conditions, and the concession can be affected if any buyer doesn't qualify, worth checking before you enter into a joint purchase.
The value of stamp duty relief makes it worth getting the eligibility check right before you exchange, not after. If there's any doubt about your situation, a partner's property history, your residency plans, or a joint purchase, get advice before you factor the saving into your budget.
Get a fixed-fee quote and speak directly to the person who'll handle your matter.
This article is general information only and does not constitute legal or financial advice. Scheme thresholds and eligibility rules are set by Revenue NSW and may change, always confirm current details before relying on them, and get in touch for advice on your specific circumstances.