These changes are part of a range of changes made by the New South Wales Government under the COVID-19 Recovery Plan. From 1 August, 2020 and for the next 12 months thresholds for exemption from payment of stamp duty for first home buyers who buy new homes or vacant land.


NEW HOMES Pre 1 August-Threshold Current Threshold
Exempt Up to $650,0000 Increased to $800,000
Concessions Up to $800,000 Increased to 1 million
Exempt Up to $650,000 Unchanged
Concessions Up to $800,000 Unchanged
Exempt Up to $350,000 $400,000
Concessions Between $400,000 and $500,000


What is stamp duty?

Stamp or transfer duty is a tax in NSW when you buy a:

Transfer Duty

  • Purchase property
  • Investment property
  • Vacant land or a farming property
  • Commercial or industrial properties
  • A business which includes land


When does transfer duty need to be paid?

You must pay transfer duty within three months of singing a contract for sale or transfer, except in the case of off-the-plan purchases.

If you buy off-the-plan and you intend to live in the property you may be able to defer this tax for up to 12 months.

You will need to seek legal advice to ensure you understand your obligations in regards to transfer duties.


How do I calculate transfer duty?

The NSW Revenue office provides a calculator that can give you an estimate of the transfer duty that is required to be paid.

Click here for the calculator.


First Home Buyer Grants Available

  1. Home Buyer Assistance Scheme

Full or partial exemption on transfer duty when buying your first home under the nominated threshold.

More information on this scheme.


  1. First Home Owner Grant (New Home Scheme)

Grant of $10,000 toward the cost of your property when purchasing a new or extensively renovated home.

More information on this scheme.


Contact Catron Simmons Lawyers for assistance with all your purchasing property needs.

Need legal advice? Catron Simmons can help.