First Home Buyers Grant NSW & Stamp Duty NSW
The NSW Government offers grants to first home buyers, second home and off-the-plan buyers.
These grants can change at any time, so take the time to understand your costs before making an offer on your next home.
For accurate and up to date information relating to the current government grants (including the first home buyers grant NSW), check the government website.
How to claim the first home buyers grant
If you think you may be eligible for a stamp duty exemption, you should mention this to your conveyancer or solicitor. They will need to know, as they will be the ones who will organise all the paperwork.
You solicitor or conveyancer will email or post you the documents you need to sign and return, so they can lodge your claim with Revenue NSW.
Do I need to pay stamp duty?
If you do not qualify for a full NSW property buyers grant, you will have to pay the stamp duty.
You can calculate the amount using the NSW Office of State Revenue calculator.
When do I need to pay stamp duty?
Stamp duty will be calculated by your solicitor or conveyancer. The final decision on grants and amounts payable ultimately comes down to the Office of State Revenue.
Stamp duty is paid at settlement or within 3 months of exchange, whichever is sooner. Therefore, if you buy a property ‘off the plan’ and it doesn’t register for 12 months, Revenue NSW will require payment within 3 months.
As the buyer, you must make sure you have enough funds available for the conveyancer or solicitor to pay the stamp duty. This will all be discussed with you before settlement.
If you are borrowing money from a bank or through a lender, please check with them that there is enough money available for stamp duty.
Ready to get started?
If you’re buying, selling or want to transfer a property, let us help you. We offer expert property law and conveyancing across Newcastle, Maitland, Lake Macquarie, Port Stephens, Central Coast and NSW.
From contract review through to settlement, you’ll have complete confidence in our legal support, making the process of buying or selling a little easier.