The First Home Plus Scheme was available for purchases made before 1 January 2012. For the current first home buyers’ scheme, see the First Home Buyers Assistance scheme.
The First Home Plus Scheme (FHPS) provided a concessional rate of transfer duty to first home buyers of both new and existing homes in NSW who:
To qualify for the First Home Plus Scheme:
You weren't eligible for the First Home Plus Scheme if you or your spouse or de facto partner had previously:
You or one of the other first home buyers must have moved into the new home within 12 months after buying the property, and lived there for at least six continuous months.
If you bought land and built a new home, you must have moved in within 12 months of construction being completed.
You don’t have to meet these requirements if you were a member of the Australian Defence Force when you purchased the property and:
You were still eligible eve if you purchased the property with people who eligible for First Home Plus Scheme, as long as eligible buyers purchased more than 50% of the property. The amount of transfer duty you need to pay will be based on the proportion of the property you own. This is called the First Home Plus One Scheme (FHPOS).
The exception is where your spouse or partner was one of the ineligible buyers. In this case, neither of you are eligible.
The amount of transfer duty payable was based on how much you paid for your property and whether you purchased an existing home or vacant land.
We’ve set out some examples below.
Purchase price | Usual transfer duty | Transfer duty you owe | Concession |
---|---|---|---|
$500,000 | $17,990 | $0 | 100% |
$525,000 | $19,115 | $5,623 | 29% |
$550,000 | $20,240 | $11,245 | 56% |
$575,000 | $21,365 | $16,868 | 79% |
$600,000 | $22,490 | $22,490 | 0% |
You can apply for a transfer duty exemption on vacant land on which you’ve built – or intend to build – your home.
We’ve set out some examples below.
Purchase price | Usual duty | First Home Plus duty | Concession |
---|---|---|---|
$300,000 | $8,990 | $0 | 100% |
$340,000 | $10,790 | $4,196 | 39% |
$380,000 | $12,590 | $8,392 | 67% |
$420,000 | $14,390 | $12,588 | 87% |
$450,000 | $15,740 | $15,740 | 0% |
If you’re still eligible for the First Home Plus scheme, you can apply.