First home buyer

Conveyancing for Purchasing

Boyd Conveyancing Services will advise you in relation to your claim for exemption of stamp duty (First Home Buyers Grant) and claim for the $10000 (First Home New Home Grant) in NSW.

If you are eligible for any of the subsidies mentioned above, Boyd Conveyancing Services will assist you in making application to the Office of State Revenue for your entitlement.

The Office of State Revenue is the governing body of these entitlements and set the guidelines that need to be met to qualify for the First Home Buyer Grants and Stamp Duty Exemption.

First Home New Home Grant – $10000

To be eligible first home owners grant you must comply with certain eligibility requirements being:

  • You are a person (not a company or trust) buying your first home and the home is brand new, never been resided in and the first sale of the home since it was constructed.
  • One of the purchasers is either a permanent resident or Australian Citizen.

Certain evidence will be required to be submitted with your application.

  • You or your spouse (including de facto spouse) have not owned a home in Australia prior to 1 July 2000 (this includes investment homes).
  • Neither you or your spouse have not been a resident in a residential property in Australia in which you were the owner of the property, on or after 1 July 2000 for a continuous period of at least six months.
  • At least one of the purchasers must occupy the property that you purchase as your principal place of residence for a continuous period of six months starting within the first year of the settlement of your purchase.
  • You are at least 18 years of age.
  • You have not already received a grant.
  • The purchase price is not more than $650 000.

In relation to vacant land you have 12 months to build on the property. The Office of State Revenue must be satisfied that the land was purchased with the intent of residing at the premises. The application for the FHOG is submitted after the dwelling has commenced construction by your bank who are lending money for the construction or if you are paying for the construction yourself, once the occupation certificate has issued.

If you are unable to occupy the property within the 12 months but do still intend to move into the property as your residence you will need to forward an application to the Office of State Revenue seeking an extension of time. This must be done before the end of the 12 month period from the purchase. It is up to the Office of State Revenue as to whether they grant you an extension of time.
If you do not meet all the requirements and have been successfully paid the $10000 the Office of State Revenue will require that you repay the grant and you may be requested to pay interest on the grant together with a fine.

See the Office of State Revenue fact sheet for relevant dates and requirements to be entitled to the Grant.

First Home

This Scheme provides eligible purchasers with exemptions on transfer duty.

  • Homes valued up to $650 000 will receive a full exemption and homes valued between $650 000 and $800 000 will receive concessions on duty.
  • Vacant land which it is intended to build a residential home with vacant land valued up to $350 000 will receive full exemption and land valued between $350 000 to $4500 000 will receive concessions on duty.

You can find more information regarding the First Home Owners Grant (New Home) on the Office of State Revenue website.

Information regarding an exemption of duty can be found at Office of State Revenue website.

If you have any enquiries regarding First Home Benefits in NSW please contact Boyd Conveyancing Services.