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​From 1 July 2023, a full exemption from transfer duty will be available if you are buying a new or existing home valued up to $800,000, while homes valued over $800,000 and less than $1,000,000 may qualify for a concessional rate. If you are purchasing vacant land on which you intend to build a home, you may receive an exemption for land valued up to $350,000 and a concessional rate for land valued over $350,000 and less than $450,000. To be eligible for the First Home Buyers Assistance Scheme:

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• the purchase must be for a new or existing home, or vacant land in NSW

• the property value must be within the threshold amounts

• the transfer must be for the whole property

• you must be an individual, (not a company or trust*)

• you must be over 18*

• you and your spouse or partner, must never have owned or co-owned residential property in Australia

• you and your spouse or partner, must never have previously received an exemption or concession under the scheme

• at least one of the first home buyers must be an Australian citizen or permanent resident

• for new or existing homes, you must meet the requirements for living in the property.

• Buying your first home in Australia.

• The value must be less than $1 million.

• You must also move into the property within 12 months from settlement and live there for at least 12 continuous months.