:
On July 1 2019, the First Home Owner Grant was replaced with the Home Buyer Concession Scheme (HBCS). Eligible applicants for the HBCS who enter into a transaction to purchase property on or after 1 July 2019 are entitled to a full or reduced duty concession. This scheme applies to vacant residential land and both new and established homes, anywhere in the ACT and at any price.
In order to pay no stamp duty on your new home purchase, the following eligibility criteria must be met:
Income Threshold for Transactions From 1 July 2022
Dependent Children | Gross Income |
Number of dependent children: 0 | Total gross income threshold: $170,000 |
Number of dependent children: 1 | Total gross income threshold: $173,330 |
Number of dependent children: 2 | Total gross income threshold: $176,660 |
Number of dependent children: 3 | Total gross income threshold: $179,990 |
Number of dependent children: 4 | Total gross income threshold: $183,320 |
Number of dependent children: 5 or more | Total gross income threshold: $186,650 |
Income Threshold for Transactions from 1 July 2019 to 30 June 2022
Dependent Children | Gross Income |
Number of dependent children: 0 | Total gross income threshold: $160,000 |
Number of dependent children: 1 | Total gross income threshold: $163,330 |
Number of dependent children: 2 | Total gross income threshold: $166,660 |
Number of dependent children: 3 | Total gross income threshold: $169,990 |
Number of dependent children: 4 | Total gross income threshold: $173,320 |
Number of dependent children: 5 or more | Total gross income threshold: $176,650 |
More Information:
https://www.revenue.act.gov.au/home-buyer-assistance/home-buyer-concession-scheme
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