Expanding first home buyer assistance in the ACT
March 25, 2019
The ACT Government is removing stamp duty for eligible first home buyers in the ACT.
From 1 July 2019, Canberrans will not pay any stamp duty on their first home if:
- The total gross income of all home buyers and their domestic partners (if any) for the previous financial year is below $160,000
- No buyer of the home has owned any other property in the last two years
- At least one owner lives in the home continuously for at least one year, starting within 12 months of settlement or completion of construction
This new concession is available for the purchase of a broader range of properties, letting first home buyers choose the home that's right for them. Under the new scheme, the same support is available for both newly built and existing homes, and there is no cap on the property value.
The new scheme will replace the current First Home Owner Grant of $7,000 which is currently available to first home buyers purchasing new or substantially renovated homes with a property value under $750,000.
To be eligible for the grant, first home buyers must exchange contracts by 30 June 2019, or if building a home as an owner-builder, start laying the foundations by 30 June 2019. For more information please see the ACT Government website.