The two are not either-or. Revenue NSW says eligible buyers may receive the grant on top of other exemptions or concessions. The Australian Government’s deposit scheme is a third, separate program, covered on sheet 3.
Who the duty scheme is for
Revenue NSW lists these conditions for the First Home Buyers Assistance Scheme:
- The purchase is a home (new or existing) or vacant land in NSW.
- The property value is within the thresholds.
- The transfer is for the whole property.
- You are an individual, not a company or trust, and over 18. Revenue NSW says these two may be waived on application.
- Neither you nor your spouse or partner has ever owned or co-owned residential property in Australia.
- Neither of you has received an exemption or concession under the scheme before.
- At least one of the first home buyers is an Australian citizen or permanent resident.
- For a new or existing home, you meet the requirement to live in it.
Members of the permanent forces of the Australian Defence Force need not meet the residence requirement if, at exchange, everyone buying is on the NSW electoral roll.
The reduced rates
Between the exemption limit and the upper limit, the duty is reduced rather than removed, and the amount depends on the value. The NSW Government publishes sample figures for transactions from 1 July 2026 to 30 June 2027:
| Value | Duty payable |
|---|---|
| $850,000 | $9,796.75 |
| $900,000 | $19,593.50 |
| $950,000 | $29,390.25 |
| $990,000 | $37,227.65 |
| Value | Duty payable |
|---|---|
| $370,000 | $2,761.40 |
| $390,000 | $5,552.80 |
| $410,000 | $8,514.20 |
| $430,000 | $11,475.60 |
For any other value, Revenue NSW’s First Home Buyers Assistance calculator estimates the saving if you meet the eligibility requirements.
Who the grant is for
The grant has its own rules about past ownership. You are not eligible if you or your spouse have already had a First Home Owner Grant anywhere in Australia, owned a home or other residential property in Australia at any time before 1 July 2000, or lived for six continuous months or more in an Australian home you owned on or after 1 July 2000.
Each applicant must be at least 18, and at least one must be a permanent resident or Australian citizen; benefits are not available for temporary residents. One grant is paid per property transaction, not per person. The grant is not means tested and is not taxed. Owning property outside Australia does not by itself rule you out, and an inherited property does not qualify, because you must be the buyer or builder.
If your plans change
Both programs depend on living in the home. Under the duty scheme, if you can no longer meet the residence requirement you are no longer eligible, and you must tell Revenue NSW straight away so the correct duty can be paid, or interest and penalties may apply. Revenue NSW may allow a shorter period or waive the requirement in exceptional circumstances, on written request.
Under the grant, moving out before the 12 months are up means repaying the grant, and Revenue NSW says that not contacting it to repay can bring a fine of up to $11,000.
Buying with someone who is a foreign person
Being eligible for the duty scheme does not exempt a foreign person from surcharge purchaser duty. Revenue NSW gives the example of New Zealand citizens and permanent residents who qualify for the scheme but may still owe the surcharge if they are not ordinarily resident in Australia. The surcharge is calculated on the foreign person’s share of the property. The rules are on sheet 4.