Stamp duty is usually the second-largest upfront cost of buying a home after the deposit, and it is the one cost governments are willing to waive — but only for first home buyers, and only below price caps that vary wildly between states. A price that gets you a full exemption in Sydney gets you nothing in Hobart.
This guide sets out the concessions as they stand in July 2026. These are the same thresholds our stamp duty calculator applies, so you can check any specific price in seconds.
The thresholds at a glance
| State | Full exemption up to | Partial concession up to | Notes |
|---|---|---|---|
| NSW | $800,000 | $1,000,000 | Sliding concessional rate between the caps |
| VIC | $600,000 | $750,000 | Sliding concession between the caps |
| QLD | $500,000 | $550,000 | Concessional rate between the caps |
| WA | $430,000 | $530,000 | Concession phases out between the caps |
| SA | New homes: abolished | — | Existing homes pay the standard rate |
| TAS | — | $600,000 | 50% duty discount, not a full exemption |
| ACT | Income-tested | — | Home Buyer Concession Scheme, based on household income |
| NT | — | — | $10,000 First Home Owner Grant for new homes instead |
Three structural patterns are worth understanding, because they change how you should think about your price range.
Pattern one: the cliff states
In NSW, Victoria, Queensland and WA, the concession is binary at the bottom and tapers at the top. Buy at $799,000 in NSW and you pay zero duty. Buy at $801,000 and you enter the taper zone; buy above $1,000,000 and you pay the full rate — the same duty as an investor buying their tenth property.
The taper zones are steep. Because the concession unwinds over a narrow band ($50,000 in Queensland's case), each extra dollar of purchase price inside the band can cost you several dollars in extra duty. If you are negotiating near a threshold, the duty consequence of the final bid can be larger than the price difference itself. Run both prices through the calculator before you settle on a limit at auction.
Pattern two: new-build incentives
South Australia and the Northern Territory have shifted their assistance toward new construction. SA abolished stamp duty for first home buyers on new homes entirely — with no price cap — but an established home attracts the full standard rate. The NT offers a $10,000 First Home Owner Grant for new homes rather than a duty exemption.
If you are open to building or buying off the plan in these jurisdictions, the saving can be five figures. But weigh it honestly against construction risk, timeline, and the fact that established homes in comparable locations may simply be cheaper.
Pattern three: means testing
The ACT is the outlier: its Home Buyer Concession Scheme has no price cap at all, but eligibility depends on household income. Two buyers purchasing identical homes can face completely different duty bills. If you are buying in Canberra, check the current income thresholds on the ACT Revenue Office site before assuming anything.
What the exemption is actually worth
A useful rule of thumb: standard stamp duty on a mid-range home runs roughly 3.5–5.5% of the purchase price depending on the state. On a $700,000 purchase, a full exemption is worth somewhere in the region of $25,000–$30,000 — often more than a year of savings for the buyers it targets.
That is also why the caps matter so much. The median house price in Sydney sits above the NSW exemption cap, which means many first home buyers in Sydney get the taper rate or nothing. The concessions are most generous, relative to local prices, in regional areas and smaller capitals.
Common traps
Both buyers usually must be first home buyers. Buying with a partner who has owned property before typically disqualifies the purchase, or reduces the concession, depending on the state.
Residency requirements apply. Most states require you to move in within 12 months and live in the home for a continuous period (commonly 6–12 months). Buying as a first home buyer and renting the property out can trigger clawback of the full duty plus penalties.
The caps change. States adjust thresholds in budgets, sometimes with little notice, and transitional rules usually apply based on contract date — not settlement date. If a budget announcement lands while you are house hunting, the contract date you sign becomes very important.
Off-the-plan sunset risk. Concessions tied to new builds are assessed at contract, but if a developer delays or the contract is rescinded, your eligibility may not transfer neatly to your next purchase. Get advice before relying on it.
How to use this in practice
Set your search range with duty included, not as an afterthought. Take your maximum budget, subtract your deposit and roughly $3,000–$5,000 for legal and inspection costs, then check duty at three price points: comfortably under the exemption cap, at the cap, and at your ceiling. The stamp duty calculator gives you the exact figure for each state, and the deposit savings calculator shows how the timeline shifts if you decide to wait and buy under a threshold rather than over it.
Thresholds current as at July 2026 and sourced from state revenue offices (Revenue NSW, SRO Victoria, QRO, RevenueWA, RevenueSA, SRO Tasmania, ACT Revenue Office, Territory Revenue Office). Always confirm current rules with the relevant office before contracting — this is general information, not advice.