On 12 March 2026, the State Government announced changes to extend the off-the-plan duty concession until 30 June 2028, increase the value thresholds and expand eligible transactions to include new dwellings purchased off-the-plan in survey-strata and community titles (land) schemes. These changes apply to transactions entered into on or after 12 March 2026 (announcement date).
Use our online calculator to see the amount payable for transactions entered into on or after 12 March 2026.
On 7 May 2026, the State Government announced budget measures to:
increase the first home owner rate of duty (FHOR) thresholds for established homes and vacant land so purchases of property with a higher dutiable value are eligible for a duty exemption or concession
No duty is payable for newly built or established homes valued up to $600,000 (previously $500,000) with a concessional rate applied to those homes valued up to $800,000 (previously $700,000)
No duty is payable for vacant land valued up to $450,000 (previously $350,000) with a concessional rate applied to vacant land valued up to $550,000 (previously $450,000)
Use our online calculator to see the amounts payable for transactions entered into on or after 7 May 2026.
increase the first home owner grant (FHOG) cap for homes south of the 26th parallel of South Latitude to $800,000 meaning eligible purchasers are not disadvantaged by increases in costs associated with building a house
remove the link between the first home owner grant value caps and eligibility for the first home owner rate of duty, enabling eligible first home buyers to access a duty concession if the value of the transaction exceeds the FHOG cap and
establish a new foreign transfer duty exemption for ‘build-to-sell’ developments that result in a net addition of at least one dwelling to the housing supply.
The changes announced under these measures apply to transactions entered into on or after 7 May 2026 (announcement date).
Commencement of changes
The announced changes have now been applied.
Eligible transactions that were not assessed under the new rates, thresholds and exemption criteria can be reassessed and issued a refund.
Further information about these changes is detailed in Circular 23 ‘Finance Legislation Amendment (Housing Affordability) Bill 2026’.
