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Articles and legal news from the Atkinson Vinden Team.

First Home

News & Updates

This Scheme replaces the First Home Plus scheme from 1 January 2012.  This applies to the purchase of new homes or vacant land on which the purchaser intends to build a new home.  From 1 July, 2012, to be eligible for the full exemption from duty, the dutiable value of the property must be less than:

  • $550,000.00 if the property is a private dwelling; or
  • $350,000 if the property is a vacant block of residential land.

Concessions will apply where the dutiable value of the private dwelling is more than $550,000 but less than $650,000 and for vacant land where the dutiable value of the residential land is more than $350,000 but less than $450,000.00.

A “New Home” is defined to mean a home that has not been previously occupied or sold as a place of residence.