| State | Stamp duty relief | First Home Owner Grant | 5% Deposit Scheme cap (capital) |
|---|---|---|---|
| New South Wales | Under the First Home Buyers Assistance Scheme, an eligible first home buyer pays no transfer duty on a new or existing home up to $800,000, and a reduced amount between $800,000 and $1 million. | $10,000 | $1,500,000 |
| Victoria | An eligible first home buyer pays no duty on a home up to $600,000, and a reduced amount between $600,000 and $750,000. | $10,000 | $950,000 |
| Queensland | First home buyers of a new home pay no transfer duty at any price, for contracts signed from 1 May 2025. | $30,000 | $1,000,000 |
| Western Australia | From 7 May 2026, the first home owner rate of duty means no duty on a first home (new or established) up to $600,000, then $16.15 per $100 above $600,000 up to $800,000. | $10,000 | $850,000 |
| South Australia | Eligible first home buyers pay no stamp duty on a new home, an off the plan apartment or vacant land to build on, at any value, for contracts signed from 13 February 2025. | $15,000 | $900,000 |
| Tasmania | Tasmania's first home buyer duty exemption for established homes ended on 30 June 2026. | $20,000 | $700,000 |
| Australian Capital Territory | From 1 July 2026, the Home Buyer Concession Scheme means no conveyance duty for eligible buyers, with no income test and no price cap. | None | $1,000,000 |
| Northern Territory | The Territory's help for first home buyers comes mainly through grants rather than duty relief: the HomeGrown Territory Grant of $50,000 for buying or building a new home, for contracts signed by 30 September 2027. | $50,000 | $750,000 |
The national schemes
The 5% Deposit Scheme
The Australian Government 5% Deposit Scheme (formerly the Home Guarantee Scheme) lets first home buyers buy with a deposit of 5%, and single parents or legal guardians with 2%, without paying lenders mortgage insurance. The government guarantees part of the loan, which is what lets the lender skip the insurance. Since 1 October 2025 there are no income caps and no waitlist; the limits are property price caps that vary by state and area.
Help to Buy
Help to Buy is shared equity: you put in at least 2%, borrow from a participating lender, and the government contributes up to 30% of the price of an existing home or up to 40% of a new one, in exchange for that share of the home's value. You can buy the share back over time or repay it when you sell. Applicants must be Australian citizens with taxable income at or below $103,000 (single) or $165,000 (joint applicants and single parents), and the home has its own price caps.
The First Home Super Saver scheme
Through the First Home Super Saver scheme you can make voluntary contributions to super and later withdraw them, with associated earnings, for a first home deposit: up to $15,000 of contributions from any one financial year and $50,000 in total. Because concessional contributions are taxed at 15% inside super rather than at your marginal rate, it can grow a deposit faster for many earners. Ask the ATO or a tax adviser how it applies to you.
| State | 5% Deposit Scheme | Help to Buy |
|---|---|---|
| New South Wales | $1,500,000 | $1,300,000 |
| Victoria | $950,000 | $950,000 |
| Queensland | $1,000,000 | $1,000,000 |
| Western Australia | $850,000 | $850,000 |
| South Australia | $900,000 | $900,000 |
| Tasmania | $700,000 | $700,000 |
| Australian Capital Territory | $1,000,000 | $1,000,000 |
| Northern Territory | $750,000 | $600,000 |
How the pieces fit together
Most first home buyers combine three things: a federal scheme to reduce the deposit or remove lenders mortgage insurance, their state's stamp duty relief, and (for a new home) their state's grant. The order of operations matters: the price you can pay is set by what you could borrow plus your deposit, less stamp duty and costs, and the schemes change each of those numbers.
Common questions
What is the biggest help for first home buyers right now?
For most people, it's the combination of the 5% Deposit Scheme (no lenders mortgage insurance with a 5% deposit, no income cap) and their state's stamp duty relief. On a typical first home the stamp duty saving alone can be more than $20,000.
Do I have to be a first home buyer for the 5% Deposit Scheme?
The main pathway is for first home buyers, and single parents or legal guardians can use it with a 2% deposit. Eligibility conditions apply.
Sources
- firsthomebuyers.gov.au: Australian Government 5% Deposit Scheme, checked 21 October 2026
- firsthomebuyers.gov.au: 5% Deposit Scheme property price caps, checked 21 October 2026
- firsthomebuyers.gov.au: Help to Buy, checked 21 October 2026
- firsthomebuyers.gov.au: Help to Buy property price caps, checked 21 October 2026
- ATO: First Home Super Saver scheme release amounts, checked 21 October 2026
- Revenue NSW: First Home Owner Grant (New Homes) Scheme, checked 21 October 2026
- SRO Victoria: First Home Owner Grant, checked 21 October 2026
- Queensland Revenue Office: first home owner grant eligibility, checked 21 October 2026
- WA Government media statement, 7 May 2026: tax package for first home buyers, checked 21 October 2026
- RevenueSA: first home owner grant, checked 21 October 2026
- SRO Tasmania: First Home Owner Grant eligibility, checked 21 October 2026
- Territory Revenue Office: HomeGrown Territory grants, checked 21 October 2026
General information only, not credit advice. It doesn’t take your objectives, financial situation or needs into account. Rules and figures change; check them, or talk to Joshua, before you rely on them.