Property Buying Concessions in Queensland: What Investors Need to Know
Purchasing property in Queensland can offer substantial financial advantages, especially if you qualify for government concessions or grants. As of May 2025, new updates have made it even more attractive for first-time buyers and owner-occupiers to invest in either newly built homes or vacant land. Below is a guide to the key concessions available.
New Home Transfer Duty Concession for First Home Buyers
If you are buying a brand-new or significantly renovated home with a contract dated on or after May 1, 2025, you might be eligible for a complete exemption from transfer (stamp) duty, regardless of the property’s price.
- You must be an individual (not a company or trust).
- You should have never owned a residential property in Australia.
- The property needs to be new or substantially renovated.
- You are required to move in within one year of settlement and reside there for at least six months.
This exemption can result in considerable upfront savings by reducing the initial cost of entering the property market.
Concessions for First Home Buyers on Vacant Land
For first home buyers looking to purchase vacant land—with plans to build a home—tiered stamp duty concessions are available.
- A full exemption applies if the land is valued up to $350,000.
- A phased concession is available for land valued between $350,000 and $500,000.
To qualify, you must not have previously owned property in Australia, the land must be unoccupied at the time of purchase, and you need to construct and occupy the home within two years. This approach helps ease the financial burden of new home construction planning.
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Home Concession for Non-First Home Buyers
Particularly beneficial for owner-occupiers who are not first-time buyers, the home concession provides reduced transfer duty.
- A discounted rate is applied to the first $350,000 of the property's value.
- Standard rates will apply to any amount beyond that threshold.
- You must move into the property within a year and live there for a minimum of six months.
This concession supports those looking to upgrade or downsize without incurring the full cost of transfer duty.
First Home Owner Grant (FHOG)
Queensland also offers a First Home Owner Grant of up to $30,000 to help offset initial costs for purchasing or building a new home.
- You must be at least 18 years old.
- You need to be an Australian citizen or permanent resident.
- The new home must be valued at less than $750,000.
- You are required to occupy the home for at least six months within a year after settlement.
This grant can provide much-needed assistance in covering deposits, fees, or furnishing expenses for your new home.
How to Apply
To apply for these concessions and grants, you will typically need to submit:
- A completed claim form (such as Form D2.1).
- Proof of identity and eligibility.
- A signed contract of sale.
- An application submitted through the Queensland Revenue Office or via an approved assessor.
For a quick check on your eligibility, consider using the Transfer Duty Eligibility Tester provided by the Queensland Revenue Office.
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