Are you a first home buyer in Queensland? You could be eligible for thousands in stamp duty exemptions under both existing and new rules, including the ability to rent out part of your home without losing your concession.
Let’s break it down.
Read more: QLD Stamp Duty Changes: Big Savings for First Home Buyers from May 2025
What is Stamp Duty?
Stamp duty (also known as transfer duty) is a government tax you pay when purchasing property in Queensland. It is calculated based on the value of the property and can significantly increase your upfront costs—especially for first home buyers.
What Concessions Are Available?
🏠 1. First Home Concession (for existing homes)
- Applies to established (non-new) homes
- Full exemption if purchase price is $700,000 or less
- Partial exemption if priced between $700,001 and $800,000
- No exemption if over $800,000
🏗️ 2. First Home (New Home) & Vacant Land Concession (For contracts signed from 1 May 2025)
Applies to:
- Newly built homes
- Substantially renovated homes
- Vacant residential land (if you intend to build and live there)
Key features:
- Full exemption, no price cap
- You must pay market value (no gifts or discounts)
- Vacant land buyers must build and move in within 2 years and stay for at least 1 year
🛏️ 3. Rent-a-Room Concession (Effective 6 December 2024)
First home buyers who claim a transfer duty concession can now rent out part of their home (like a bedroom) without losing the concession, if:
- You move in before leasing part of the property
- You remain living in the home during the lease
- The rental agreement starts on or after 10 September 2024
- You do not rent the entire property or rent before moving in
This gives homeowners greater flexibility to offset mortgage costs while maintaining stamp duty relief.
Who Is Eligible?
To qualify for any of these concessions, you must:
- Be at least 18 years old
- Have never owned residential property in Australia or overseas
- Buy as an individual (not as a company or trust)
- Move into the property within 12 months and live there continuously for at least 1 year
How to Apply
If you’re eligible, you can apply by submitting:
- Form D2.1
- Supporting documents
- Title transfer documents
It’s best to ask your solicitor or conveyancer to help complete and lodge your documents correctly.
Need assistance your property purchase?
Our team at W & G Lawyers is ready to guide you with expert legal support.
Contact us at ✉ info@wglawyers.com.au or 📞 0433 071 350.
Useful Resources
Queensland Revenue Office: Lodging and paying transfer duty: https://qro.qld.gov.au/duties/transfer-duty/lodging-paying/
Queensland Revenue Office: First Home Concession: https://qro.qld.gov.au/duties/transfer-duty/concessions/homes/first-home/
Queensland Government: Transfer duty (stamp duty) concessions and exemptions: https://www.qld.gov.au/housing/buying-owning-home/home-buyers-financial-help/transfer-duty
Disclaimer
The content of this article is provided for general information purposes only and does not constitute legal advice. While every effort is made to ensure the accuracy of the information, it should not be relied upon as a substitute for legal advice tailored to your circumstances. We recommend that you seek independent legal advice before acting on any information contained herein.