How much transfer duty you’ll pay on your first home in NSW, who qualifies for the exemption, and how the concession works between $800,000 and $1 million.
Transfer duty (stamp duty) is a tax the NSW Government charges when you buy property. It’s calculated on the dutiable value, which is the higher of the price you pay and the property’s market value. These are the general rates for contracts exchanged in the 2026/27 financial year:
| Dutiable value | Transfer duty |
|---|---|
| $0 to $18,000 | $1.25 per $100 (minimum $20) |
| $18,001 to $38,000 | $225 plus $1.50 per $100 over $18,000 |
| $38,001 to $103,000 | $525 plus $1.75 per $100 over $38,000 |
| $103,001 to $387,000 | $1,662 plus $3.50 per $100 over $103,000 |
| $387,001 to $1,290,000 | $11,602 plus $4.50 per $100 over $387,000 |
| Over $1,290,000 | $52,237 plus $5.50 per $100 over $1,290,000 |
Source: Revenue NSW, current thresholds and rates. Thresholds are indexed each 1 July. A higher premium rate applies to residential property over $3,870,000.
On a typical first home, that adds up quickly. Without any concession, duty on an $800,000 home is $30,187.
The scheme gives eligible first home buyers a full exemption or a reduced rate of duty. To qualify:
Between $800,000 and $1 million, the concession phases out evenly, so the duty you pay rises from $0 at $800,000 to full duty at $1 million. These figures use the 2026/27 rates:
| Home value | General duty | First home buyer pays | Saving |
|---|---|---|---|
| $750,000 | $27,937 | $0 | $27,937 |
| $800,000 | $30,187 | $0 | $30,187 |
| $850,000 | $32,437 | $9,797 | $22,640 |
| $900,000 | $34,687 | $19,594 | $15,094 |
| $950,000 | $36,937 | $29,390 | $7,547 |
| $1,000,000 | $39,187 | $39,187 | $0 |
Estimates based on Revenue NSW rates for 2026/27. Confirm your figure with the Revenue NSW First Home Buyers Assistance calculator.
A $780,000 apartment in Sydney. Under $800,000, so an eligible first home buyer pays no transfer duty, saving $29,287. With the 5% Deposit Scheme, the deposit could be as low as $39,000, with no lenders mortgage insurance.
A $920,000 townhouse in Western Sydney. Inside the concession band, so duty is about $23,512 instead of $35,587, a saving of about $12,075. Budget for that duty on top of your deposit.
A brand-new $590,000 apartment. No transfer duty, and because it’s a new home under $600,000, you may also qualify for the $10,000 First Home Owner Grant. Together that’s worth about $30,737.
Work out your total cash needed, including duty, fees and lenders mortgage insurance, with our upfront costs and stamp duty calculator.
If you’re buying land to build your first home, there’s no duty on land valued up to $350,000, and a reduced rate between $350,000 and $450,000. You must still meet the other eligibility rules. If you build a new home and the land and building contract together come to $750,000 or less, you may also qualify for the First Home Owner Grant.
The grant is for new homes only: a newly built or substantially renovated home, or one bought off the plan. The price must be $600,000 or less, or $750,000 or less for land plus a building contract. It isn’t means tested and isn’t taxed. You can receive the grant and the duty exemption together.
Not on a new or existing home valued at $800,000 or less, if you're eligible for the First Home Buyers Assistance Scheme. Between $800,000 and $1 million you pay a reduced amount. From $1 million you pay full transfer duty. For vacant land, the exemption applies up to $350,000 and the concession up to $450,000.
About $19,594, compared with $34,687 at the general rate, based on 2026/27 rates. Revenue NSW's First Home Buyers Assistance calculator gives the exact figure for your contract.
For the First Home Buyers Assistance Scheme, you and your spouse or partner must never have owned residential property in Australia. Owning property only overseas doesn't stop you being eligible, but check your circumstances with Revenue NSW or your conveyancer.
Yes. At least one of the buyers must be an Australian citizen or permanent resident. If a buyer is a foreign person, surcharge purchaser duty of 9% may also apply to their share, even if the scheme applies.
Yes. For a home, at least one eligible buyer must move in within 12 months of settlement and live there as their main residence for at least 12 continuous months. If you can't, you must tell Revenue NSW and pay the duty.
Possibly. If eligible first home buyers are buying at least half of the property, the scheme can apply under a shared equity arrangement, and the other buyers pay duty on their share. This doesn't apply if the ineligible buyer is your spouse.
No. There's no income test. Eligibility depends on the property value, your past ownership, your residency status and living in the home.
We’ll work out your borrowing power, your duty and your total cash needed, and check which government schemes you qualify for. Get a free Finance Insight, try the first home scheme checker, or call 0415 353 927. We speak English, Mandarin and Cantonese.
Related: 5% Deposit Scheme guide · Help to Buy guide · The true cost of buying a home · Upfront costs calculator
General information only, not financial, legal or tax advice. It does not take into account your objectives, financial situation or needs. Duty figures are estimates based on Revenue NSW rates for contracts exchanged in 2026/27; your conveyancer or Revenue NSW confirms the actual amount. Information current as at November 2026. Sources: Revenue NSW transfer duty rates, First Home Buyers Assistance Scheme, FHBAS guide, First Home Owner (New Homes) Grant. Lending criteria, fees and charges apply. Credit services are provided under Connective Credit Services Pty Ltd, Australian Credit Licence 389328.
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