Save big buying a new home: Queensland’s first-home buyer stamp duty rules explained

Queensland first-home buyers can receive a full stamp duty concession on new homes, providing an opportunity to get onto the property ladder with less upfront cash.  

Following an announcement in February 2025, Queensland’s new stamp duty concession has officially commenced for first-home buyers.  

Previously, these buyers could receive a stamp duty waiver for properties valued under $700,000, and a concessional rate for homes up to $800,000.  

Now, any first-home buyer who buys a new home to live in or vacant land to build a home, can apply for a full transfer duty concession, removing the threshold entirely for new homes. 

“Now we have abolished stamp duty, Queenslanders building their first home won’t pay a single cent in stamp duty,” Queensland premier David Crisafulli said.  

“This is just one of the ways we’re delivering a place to call home for more Queenslanders, by also unlocking the land needed for new housing and kick-starting new housing developments with the infrastructure they need.”  

While this new legislation will bring savings to many first-home buyers across the state for different types of new homes, we take a look at what exactly the new rules mean, who is eligible for the concession and what they require from applicants.

What is the concession?  

First-home buyers can claim a first home (new home) concession for stamp duty, formally known as transfer duty, when buying a new home or substantially renovated home as their first residence, if certain requirements are met.  

A new home is one that hasn’t been previously occupied or sold as a place of residence. This includes off-the-plan properties and vacant land on which to build a new house.  

It can also be a substantially renovated home, which is one that as renovated, has not been previously occupied or sold as a place of residence.  

For the concession to apply, the contract must be signed from 1 May, 2025, or later. If contracts were signed before this date, this concession won’t apply, however other concessions might. 

There is no value cap for the home and land. If there is any additional land that isn’t part of the residence, or isn’t used for residential purposes, duty will apply for that.   

Who is eligible?  

Applicants don’t need to be Australian citizens or permanent residents to claim the concession, but they must meet certain eligibility criteria.  

To be eligible for the first home (new home) concession, applicants must: 

• Acquire the property as an individual  

• Have never claimed the first home vacant land concession 

• Have never had another residence anywhere in Australia or overseas 

• Be at least 18 years old 

• Move in and live there within one year of settlement  

• Pay market value  

• Provide evidence that the home is a new home or substantially renovated home  

If an applicant is a foreign person, additional foreign acquirer duty may apply. 

If there are two or more purchasers of the property, not every person needs to qualify for one concession or apply for the same concession.  

For example, if one couple buys a home together, one person can claim a first home (new home) concession and the other, a home concession, provided they are eligible for each.  

In these cases, applicants can use the government’s transfer duty calculator to determine what will be paid with mixed concessions.  

The Queensland government has also provided a home concession eligibility tester for any applicant to check eligibility.  

What are the requirements after claiming the concession?  

Once an applicant has claimed the first home (new home) concession, there are certain requirements they must meet.  

Before they move in, acquirers can’t sell or transfer any part of the property but afterwards, a partial concession may apply if the property is sold or transferred within one year.  

Purchasers also can’t rent or lease any part of the property before they move in.  

After they move in, they can lease part of the property, if the lease arrangement starts on or before 10 September 2024, and they continue to live in the home.  

To rent or lease the whole home, purchasers must wait one year before doing so.  

Things to consider  

The concession is only available for residential land. If purchasers buy land that includes non-residential land such as farming, they need to provide a valuation of the residential land portion.  

This will then receive the concession benefit and duty will then be payable on the non-residential land portion.  

The concession does not apply to knockdown rebuilds, which involves buying and demolishing an existing home before building a new house on the land.  

According to the government, this is because that arrangement would be to buy an existing home, not a new one. In this case, purchasers might be eligible for a first home concession.   

Are you interested in buying or building a new home? Check out our New Homes section. 

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