A first-home checkbox can change a duty estimate by thousands of dollars. It cannot decide whether you qualify. This guide helps Sydney buyers prepare the eligibility questions, supporting information and occupation plan to discuss with a solicitor or conveyancer. Rules were checked against Revenue NSW on 13 October 2026.
What does the First Home Buyers Assistance Scheme cover?
The First Home Buyers Assistance Scheme (FHBAS) reduces or removes NSW transfer duty, often called stamp duty, for eligible purchases. It covers new and existing homes and qualifying vacant land. It is a duty concession, not a cash payment towards your deposit, and a price below a threshold does not establish eligibility.
The separate First Home Owner (New Homes) Grant has its own rules and value limits. That grant is not available for established homes. An eligible existing-home buyer can still qualify for FHBAS; do not use the grant’s new-home requirement to rule out duty assistance. Check each programme separately.
Current thresholds: check the whole property and contract date
Revenue NSW’s current table, checked on 13 October 2026, gives these thresholds for contracts exchanged on or after 1 July 2023. Every row assumes the other scheme conditions are met.
| Property and value | FHBAS treatment |
|---|---|
| New or existing home: $800,000 or less | Eligible for full transfer-duty exemption. |
| New or existing home: above $800,000 and below $1 million | Eligible for a reduced transfer-duty amount. |
| New or existing home: $1 million or more | Outside the home concession threshold. |
| Vacant land intended for a home: $350,000 or less | Eligible for full transfer-duty exemption. |
| Vacant land: above $350,000 and below $450,000 | Eligible for a reduced transfer-duty amount. |
| Vacant land: $450,000 or more | Outside the vacant-land concession threshold. |
Confirm the relevant value with your conveyancer. Revenue NSW explains dutiable value as the higher of the purchase price and market value. A part-share purchase or family arrangement should not be assessed simply by comparing your personal cash contribution with a whole-property threshold. Historical contracts also need the rules applicable to their date.
Check the buyers before relying on the concession
Revenue NSW’s eligibility criteria include the purchasers’ circumstances as well as the property. Take these questions to your solicitor or conveyancer before building an offer budget around a concession:
- Is this the acquisition of the whole NSW property, within the relevant value limit?
- Have you or your spouse or partner ever owned or co-owned residential property anywhere in Australia? Include an earlier investment property or ownership share, not just a home you lived in.
- Have you or your spouse or partner previously received an exemption or concession under this scheme?
- Is at least one eligible first-home buyer an Australian citizen or permanent resident?
- Do the individual-buyer and age requirements apply normally, or does an unusual case need a waiver application to Revenue NSW?
- For a home, which eligible buyer will meet the residence requirements, and is the proposed move-in plan workable?
Revenue NSW defines a spouse for this scheme to include a person you are legally married to or living with in a de facto relationship. Its guidance also addresses separation. Do not omit a spouse or partner from the eligibility discussion just because they will not appear as an owner. Ask your adviser to check the definition against your circumstances.
Buying with a parent, friend or ineligible partner
Revenue NSW permits certain shared equity arrangements where eligible first-home buyers acquire at least half the property alongside ineligible buyers. The ineligible buyers pay duty on the interest they acquire. The arrangement does not apply if your spouse is an ineligible buyer. Buying together is therefore a separate eligibility and calculation question, not a reason to tick a first-home box for the entire purchase.
Illustration only: two friends propose to buy a home equally, but one has previously owned residential property in Australia. The first-home buyer asks their conveyancer whether the shared equity provisions apply, which ownership shares must be assessed and how duty is apportioned. Meeting the “at least half” condition alone does not establish every other requirement. This is a hypothetical preparation example, not an approved ownership structure or a real buyer case.
Use the official FHBAS calculator and professional advice for these arrangements. Baxau’s home calculator does not apportion an ineligible co-buyer’s share. Separately, Revenue NSW warns that FHBAS eligibility does not remove any applicable foreign-person surcharge purchaser duty; citizenship, residency and surcharge status need their own check.
Plan the residence requirement before exchange
For a new or existing home under a contract exchanged on or after 1 July 2023, Revenue NSW requires you or another eligible first-home buyer to move in within 12 months after settlement and occupy it as the principal place of residence for at least 12 continuous months. Earlier contracts have different rules. Ask how a tenancy, delayed move or change of plans affects your ability to satisfy the requirement.
Record the intended move-in date and who will occupy the home. If you cannot meet the residence requirement, Revenue NSW says to notify it immediately to arrange the correct duty payment; interest and penalties may apply if you do not. Exceptional circumstances can be considered individually. The official guidance also provides a specific Australian Defence Force exception. Do not assume an exception applies without checking its conditions.
A worked calculator example, with the assumptions visible
Illustration only: an eligible buyer acquires an existing home with a purchase price and dutiable value of $850,000, with no shared equity arrangement or applicable foreign-person surcharge. Entering 13 October 2026 as the execution date in the Revenue NSW FHBAS calculator returned purchase duty of **$9,796.75** and duty savings of **$22,640.25** when checked that day.
For comparison, ordinary transfer duty under the 2026–27 schedule is $11,602 + ($850,000 − $387,000) × 4.5% = **$32,437**. Subtracting the example concession result gives $22,640.25. These are transfer-duty figures only; the official result also identifies additional charges for duplicates and transfers. Obtain the full payable assessment and transaction costs from your legal representative.
To reproduce the home scenario in the Baxau stamp duty calculator, enter $850,000 and select the eligible first-home buyer option, leaving the foreign-purchaser option off for this example. The checkbox applies an assumption; it does not approve eligibility. Baxau uses the current home schedule and does not handle vacant-land concessions, historical rate selection or shared equity apportionment. Use Revenue NSW for those cases.
Add your own deposit contribution and other costs separately in the upfront buying costs calculator. Replace example extras with your actual quotes. That tool estimates total upfront cash, not a loan approval or the remaining balance you must transfer at settlement.
Use an eligibility and evidence worksheet
This original worksheet turns a general “am I eligible?” question into a focused discussion. Record answers and outstanding checks privately with your adviser. Do not send identity documents or personal ownership histories through a general agent-enquiry form.
| Record | What to prepare or confirm |
|---|---|
| Property and timing | Property type, whole-property value, contract date and expected settlement date. Ask which rules apply. |
| Purchasers and relationships | Proposed owners and shares; relevant spouse or partner circumstances. Identify any ineligible co-buyer. |
| Earlier property or scheme use | Each relevant person’s Australian residential ownership history and previous FHBAS use, including uncertain cases. |
| Individual, age and residency checks | Ask which identity and status evidence is required and whether an exception needs a separate request. |
| Occupation plan | Which eligible buyer will occupy, planned move-in timing, continuous residence period and any obstacle. |
| Assessment and follow-up | Dated advice, unresolved questions, application owner, documents required and actual payable costs. |
How to apply and what to confirm next
Revenue NSW says applications follow exchange of contracts. For contracts exchanged on or after 1 July 2023, its page links the FHBAS application form ODA 066B and the individual Purchaser/Transferee Declaration. Lodge the forms and required proof of identity with your solicitor or conveyancer. Use the live official page to obtain the applicable forms.
Prepare the eligibility discussion earlier, before relying on a saving in your budget. Ask your adviser who will lodge the application, what further evidence is needed, how the duty assessment will be confirmed and when payment is due for your transaction. Keep a calculation, an application and a confirmed assessment as separate records.
The buying-costs collection and stamp-duty result guide cover the wider budget. Use the contract-review checklist to organise the separate legal review. A buyers agent can assist with agreed search or purchase-coordination tasks; confirm scheme eligibility and legal obligations with your solicitor, conveyancer or Revenue NSW.
If you want help with your Sydney property search, you can request a buyers-agent introduction with no charge to enquire and no obligation to engage. Baxau may receive a referral fee negotiated case by case; read how matching works.