Government incentives for first home buyers

The First Home Super Saver (FHSS) Scheme helps eligible first home buyers save for a deposit by making voluntary contributions to their super fund, which can then be withdrawn to purchase or build a home. By saving through super, you benefit from concessional tax rates, meaning your deposit can grow faster compared to regular savings.

The Home Guarantee Scheme helps eligible buyers purchase a home sooner with a smaller deposit and without paying Lenders Mortgage Insurance. It includes three guarantees: the First Home Guarantee and Regional First Home Buyer Guarantee, which allow buyers to purchase with as little as 5% deposit, and the Family Home Guarantee, supporting single parents or legal guardians with just a 2% deposit.

First home buyers may get a full stamp duty exemption on homes up to $800,000, and concessions for homes between $800,000 and $1,000,000.

The NSW First Home Owner Grant provides $10,000 to eligible first-time buyers purchasing a new or substantially renovated home valued up to $600,000.

Provides exemptions or concessions on transfer duty (stamp duty) for eligible first home buyers.

The Queensland First Home Owner Grant offers $30,000 to eligible first-time buyers purchasing or building a new home valued under $750,000. Available until 30 June 2025.