First Home Buyers: How to Save on Stamp Duty

Building your first home? You may be eligible for stamp duty relief, which can save you thousands!

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What is Stamp Duty Relief?

• Stamp duty is a tax you usually pay when your new home or land is officially yours. Stamp duty relief means you may not have to pay this tax if you meet certain requirements.

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Who can apply?

You can apply if:

• You’re 18 or older

• You’re an Australian citizen, permanent resident, or a New Zealand citizen living permanently in Australia

• You include your spouse or partner’s details (even if they’re not applying)

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Eligible Properties:

Relief applies if you’re buying:

• A new home

• An off-the-plan apartment

• Vacant land to build your new home

Property value limits may apply depending on your contract date.

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Important rules about property ownership:

• If your contract is after 13 Feb 2025, you cannot have owned another property before

• If your contract is between 15 June 2023 – 12 Feb 2025, you may qualify if you didn’t live in your previous property for 6 months or more

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Living in your home:

You must live in your new home as your main residence for at least 6 months, starting:

• Within 12 months of settlement for a new home

• Within 36 months if you bought land to build on

If your circumstances change, contact RevenueSA quickly to avoid penalties.

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How relief works:

• Instead of a cash payment, stamp duty relief reduces or removes the tax you would normally pay when buying your home or land.

• Already settled? If you would have qualified, you can apply for a refund within 5 years.

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How to apply?

• Your conveyancer or solicitor usually lodges your application. You can also apply directly through RevenueSA, but you’ll need details for both you and your spouse/partner.

💡 Tip for first home buyers: Talk to your builder early about stamp duty relief — it could save you thousands and make building your dream home easier!