First Home Buyer Stamp Duty Thresholds by State (2025-26)

The short answer

For the 2025-26 financial year, first home buyers begin paying stamp (transfer) duty at different property prices in each state and territory. In broad terms, the full-exemption thresholds are: NSW $800,000, VIC $600,000, QLD $700,000 (with new homes and vacant land fully exempt), WA $500,000, TAS $750,000, and ACT up to $1,020,000 (income-tested). SA charges no duty on a new home of any value, and the NT has no value-based first home buyer concession. Above each threshold most states apply a tapering concession before full duty kicks in. Always confirm with your state revenue office.

How first home buyer stamp duty works

Stamp duty (officially "transfer duty") is a state tax on property transfers, so the rules and thresholds differ in all eight jurisdictions. First home buyer schemes generally work in three bands:

1. Full exemption below a threshold: you pay $0.
2. Tapering concession in a band above the threshold, where duty phases in gradually.
3. Full duty above the upper cap, where you pay the standard rate.

Most schemes require the property to be your principal place of residence, that you (and your partner) have never owned Australian property before, and that at least one buyer is a citizen or permanent resident. Eligibility and figures change at each state budget, so treat the table below as a starting point.

State / Territory	Full exemption up to	Tapering concession up to	Source
NSW	$800,000	$1,000,000	Revenue NSW
VIC	$600,000	$750,000	State Revenue Office VIC
QLD	$700,000 (new homes & land fully exempt)	$800,000	Queensland Revenue Office
WA	$500,000	$700,000	RevenueWA
SA	No duty on a new home (any value)	—	RevenueSA
TAS	$750,000 (hard cliff, no taper)	—	State Revenue Office TAS
ACT	up to $1,020,000 (income-tested)	—	ACT Revenue Office
NT	No value-based concession	—	Territory Revenue Office

A separate federal scheme can sidestep a different cost entirely. Under the First Home Guarantee, from 1 October 2025 eligible first home buyers can purchase with as little as a 5% deposit and pay no Lenders Mortgage Insurance (LMI), because the government guarantees the gap. Place limits and income caps were removed, and price caps rose (e.g. $1.5m Sydney, $950k Melbourne, $1m Brisbane/ACT). You can also put up to $15,000 per year and $50,000 in total toward a deposit via the First Home Super Saver scheme.

Worked example: a $800,000 first home in NSW

NSW standard transfer duty on an $800,000 home is $11,152 + $4.50 per $100 over $372,000:

• Amount over $372,000 = $800,000 − $372,000 = $428,000
• $428,000 ÷ 100 = 4,280 increments × $4.50 = $19,260
• Standard duty = $11,152 + $19,260 = $30,412

Because $800,000 sits at the NSW full-exemption threshold, an eligible first home buyer pays $0 duty, a saving of $30,412. Buy at $850,000 instead and you fall into the taper band, so a partial duty applies and your upfront cost jumps. That cliff is exactly why the threshold matters.

If you avoid duty but only have a 10% deposit, LMI may still apply unless you use the First Home Guarantee. On a $600,000 loan at 90% LVR, True Loan estimates LMI at roughly 1.79%, about $10,740, falling to $0 at 80% LVR or below. For repayments, that $600,000 loan at 6% over 30 years (monthly P&I) is about $3,597 per month.

Model this in True Loan

True Loan calculates your full first home buyer position client-side, free and with no login:

• Set State/Territory and tick the first home buyer option so the correct exemption/concession is applied.
• Enter the property price and your deposit to see duty, the LMI estimate (zero at ≤80% LVR), registration and conveyancing fees, and total funds required at settlement.
• Add an Offset balance or Extra repayment ($/month). These are two separate inputs, and either one will show how the loan clears sooner.
• Use Compare to put two scenarios side by side, for example buying just under vs just over your state's threshold, or a 5% deposit (no-LMI Guarantee) vs a 20% deposit.

See also How much stamp duty on an $800k NSW first home?, Stamp duty on a $600k Victorian first home, and a first home buyer's total upfront cost.

Common questions and mistakes

Is the threshold based on the price or the loan? The property's dutiable value, not your loan size.

Does a concession mean I pay nothing? Only below the full-exemption threshold. In the taper band you pay reduced duty, not zero.

Can I avoid both duty and LMI? Sometimes. Duty exemptions are state-based, while LMI relief comes from the federal First Home Guarantee (5% deposit, no LMI). They're separate schemes with separate caps.

Is vacant land treated the same? No. Land usually has its own lower thresholds (e.g. NSW exempts land up to $350,000).

One dollar over the threshold? In some states (like TAS) it's a hard cliff with no concession, so a small price change can cost thousands.

---

Figures are estimates for the 2025-26 financial year and change at each state budget. Always confirm with your state revenue office, the ATO, moneysmart.gov.au and Housing Australia. This is general information, not financial or credit advice.