Updated: 23 hours ago
The Queensland Government has announced a game-changing reform for first home buyers, aimed at easing one of the biggest financial hurdles: transfer (stamp) duty.
From 1 May 2025, first-time buyers who buy a newly built home or vacant land to build their first home will no longer pay transfer duty. This move is designed to make homeownership more affordable and help buyers gain a foothold in Queensland’s competitive property market.
In This Article:
What’s Changing?
Previously, first home buyers could access a discounted rate through the First Home Concession. Under the new policy, that concession is being replaced entirely by a full exemption, meaning eligible purchases that meet the criteria will pay no transfer duty.
Let’s break it down:
Property Type & Value | Duty Before 1 May 2025 | Duty After 1 May 2025 |
Vacant land up to $350,000 | Nil | Nil |
Vacant land $350,001 – $499,999 | Concessional rate (e.g., $1,060 on $360,000) | Nil |
Vacant land $500,000+ | Full duty (e.g., $15,925 on $500,000) | Nil |
New home up to $700,000 | Nil | Nil |
New home $700,001 – $799,999 | Concessional rate (e.g., $6,555 on $730,000) | Nil |
New home $800,000+ | Full duty (e.g., $24,100 on $850,000) | Nil |
This means more of your money can go directly into your new home, whether by securing a better loan, covering moving expenses, renovating or saving for future upgrades.
What About Existing Homes?
The concession for existing homes remains unchanged.
First home buyers purchasing an existing property valued up to $700,000 will still pay no duty under the First Home Concession (provided they meet all criteria). Properties above this threshold may still qualify for the Home Concession (e.g., $21,850 on an $800,000 purchase).
To learn more about the strict eligibility criteria for a Home Concession or First Home Concession, visit the Queensland Revenue Office or contact them to discuss your situation.
Who Is Eligible?
Eligibility is expected to remain similar to the current requirements.
First Home (New Build) Concession
You must:
be buying as an individual (not a company or most trusts)
be at least 18 years old
have never owned property or claimed the first home concession before
move into it with your personal belongings and live there on a daily basis within 1 year of settlement
not sell, lease, or transfer the property before you move in
First Home Vacant Land Concession
You must:
Be buying as an individual (not a company or most trusts)
Be at least 18 years old
Have never owned property or claimed the first home concession before
Build one home, move in, and live there daily within 2 years of settlement
Not sell, lease, or transfer the property before you move in
be certain there is no building, or part of a building, on the land when you acquire it
What Happens After You Move In?
In line with recent changes, once you’ve moved in:
You can lease part of the property (e.g., a granny flat or room) only if the lease starts on or after 10 September 2024 and you continue living there.
You cannot lease out the entire property within 1 year of moving in, or you may lose the concession.
Are Foreign Buyers Eligible?
Yes, but only if you meet strict eligibility criteria.
You don’t have to be an Australian citizen or permanent resident to claim the first home concession. However, Additional Foreign Acquirer Duty (AFAD) may apply unless you qualify for an exemption.
Currently, foreign acquirers in Queensland pay an additional 8% of the purchase price, plus any other relevant transfer duty.
As RHC Solicitors are lawyers, not financial specialists, accountants, or financial advisors, you must obtain appropriate financial advice from a financial advisor who specialises in foreign residential acquisitions to determine whether you meet the strict eligibility criteria and other important considerations.
How RHC Solicitors Can Help
For most people, buying a home is the most expensive transaction they will ever undertake. That's why buying a first home is both an exciting and overwhelming milestone for many. Property law is always changing, so it's crucial to engage a reputable, experienced, and dedicated lawyer or conveyancer to ensure a smooth process from start to settlement.
With over 40 years of local industry experience, our dedicated property team at RHC Solicitors makes this often complex period as straightforward as possible through efficient digital systems and affordable pricing. If you're thinking about purchasing, why not get started with an instant free quote by clicking the button below.
Disclaimer: This publication is not intended to be comprehensive, nor does it constitute legal advice. We are unable to ensure the information is current, and there is no guarantee in relation to accuracy. You should seek legal or other professional advice before acting or relying on any of the content of this publication. The views and/or opinions expressed in this publication are those of the author and may not necessarily represent the views and/or opinions of RHC Solicitors.
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