Value Limits and Duty Rates for First Home Owner Concessions
Duties Amendment Bill 2025
Legislative Assembly
Legislative Council
Assent
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
First home owners can only get concessions if the property value is $450,000 or less for vacant land; $700,000 or less for homes in the metropolitan or Peel regions; or $750,000 or less for homes outside those regions.
New duty rates apply to first home owners based on the property value and location.
Taxpayers entering multi-tiered or single-tiered schemes must meet specific time periods to get concessions.
Duty concessions for pre-construction and under-construction agreements now depend on specific value thresholds.
The Commissioner can reassess duty for first home owner or off-the-plan transactions if the original assessment happened before the law started.
Off-the-plan agreements are considered complete when the purchaser becomes the legal owner.
The Debate
What different members said when this bill was debated:
“I move: That the bill be now read a second time. The bill amends the Duties Act 2008 to implement the Cook government’s election commitments to increase the transfer duty concession for first home buyers and to expand and extend the off-the-plan duty concession.”
David Michael ALP
“I move: That the bill be now read a second time. This bill amends the Duties Act 2008 to implement the Cook government’s election commitments to increase the transfer duty concession for first home buyers and to expand and extend the off-the-plan duty concession.”