The first home buyer stamp duty exemption threshold changed in three states within months of each other in 2026. The ACT now offers Australia’s first unlimited exemption with no price cap at all, while Tasmania’s exemption has actually ended. Here’s the current threshold for every state, as of August 2026.
Quick Answer: First Home Buyer Stamp Duty Exemption Threshold
The first home buyer stamp duty exemption threshold varies by state, and three states changed their rules in 2026 alone. NSW exempts homes up to $800,000, with a partial concession to $1,000,000. Victoria exempts up to $600,000, with a concession to $750,000. Queensland exempts existing homes to $700,000, but new homes now have no price cap at all. Western Australia updated its threshold on 7 May 2026 to $600,000 for homes. The ACT now offers a full, unlimited exemption for all first home buyers from 1 July 2026. Tasmania’s exemption ended on 30 June 2026.
1. The State-by-State Threshold Table
- NSW gives the most generous flat threshold among the larger states. So homes and new builds up to $800,000 pay no stamp duty at all, with a sliding concession up to $1,000,000.
- Victoria and Queensland sit close together for existing homes. Victoria exempts up to $600,000, while Queensland exempts existing homes up to $700,000, both with a concession band above that.
- Western Australia updated its numbers mid-2026. So as of 7 May 2026, WA exempts homes up to $600,000 and land up to $450,000, both higher than the figures many older guides still show.
- South Australia works differently. Since established homes rely on the First Home Owner Grant rather than a stamp duty exemption, while new homes get a separate, unlimited exemption.
2. Queensland’s New Homes Have No Price Cap
- This changed on 1 May 2025. So new homes in Queensland now get a full stamp duty exemption with no upper price limit at all.
- Existing homes still follow the older threshold. Because the unlimited exemption only applies to new builds, not established properties, which stay capped at $700,000.
- This makes Queensland unusually generous for new construction. So a first home buyer building new in Queensland avoids stamp duty entirely, regardless of the purchase price.
- The distinction between new and established matters a lot here. Since choosing one over the other can mean the difference between paying nothing and paying a real stamp duty bill.
3. The ACT’s Unlimited Exemption Is a First for Australia
- From 1 July 2026, the ACT abolished stamp duty for first home buyers entirely. So there’s no price cap and no income test standing in the way of the exemption anymore.
- This is the first exemption of its kind in the country. Because every other state and territory still caps its exemption at a set property value.
- The change reaches beyond typical first home buyers too. So pensioners, some NDIS recipients, and anyone who hasn’t owned property in five years can also qualify.
- This makes Canberra a genuine outlier on stamp duty. Since a first home buyer there now avoids the cost entirely, no matter how expensive the property is.
4. Tasmania’s Exemption Has Actually Ended
- The scheme closed on 30 June 2026. So Tasmania no longer offers a dedicated first home buyer stamp duty exemption.
- This surprises a lot of buyers who remember the older scheme. Because search results and older guides still describe an exemption that technically no longer applies.
- Standard stamp duty rates now apply in Tasmania. So a first home buyer there pays the same duty as any other buyer, unless a new scheme gets introduced later.
- Checking the current date on any Tasmania-specific guide matters here. Since a guide written even a few months ago may still describe a scheme that’s since closed.
For related reading, see our guides to Stamp Duty on Inherited Property NSW: The Real Rules (2026) and Sunset Clause: The Real Risk in 2026, State by State.
FAQ: First Home Buyer Stamp Duty Exemption Threshold
What is the first home buyer stamp duty exemption threshold in each state?
It varies. NSW exempts up to $800,000, Victoria up to $600,000, Queensland up to $700,000 for existing homes (unlimited for new builds), and WA up to $600,000 as of May 2026. The ACT now has no cap at all.
Has Tasmania’s first home buyer stamp duty exemption ended?
Yes. The scheme closed on 30 June 2026, so Tasmanian first home buyers now pay standard stamp duty rates.
Does the ACT have a full stamp duty exemption for first home buyers?
Yes, from 1 July 2026. It’s unlimited, with no price cap and no income test, making it the first exemption of its kind in Australia.
Is there a stamp duty exemption for new homes in Queensland?
Yes. New homes in Queensland have had no price cap on their stamp duty exemption since 1 May 2025, though existing homes still follow the $700,000 threshold.
Do first home buyers in South Australia get a stamp duty exemption?
It depends on the property type. Established homes rely on the First Home Owner Grant rather than a stamp duty exemption, while new homes get a separate, unlimited exemption.
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