30/10/2025
Are you a first home buyer applying for the First Home Buyers Assistance Scheme for duty meaning you won't have to pay stamp duty?
Then this is for you!
Purchaser's must be aware of these requirements before buying a property under this scheme.
• The purchaser must move into the property within 12 months of settlement, and
• Live in the property as their principal place of residence for at least 12 continuous months.
Purchasers must not fail to meet the requirement and if you do not meet these requirements, the exemption or concession will be revoked resulting in duty becoming payable. Interest and penalties may also apply.
So best practice is if you are applying for this exemption on duty as a first home buyer then you need to make sure you move into the property and stay there for a continuous period of 12 months no breaks in between!
Feel free to get in touch with us today for all your property related enquiries.
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