Purchasing a property can feel like an unattainable pipe dream. Still, the good news is that a range of government grants and incentives can help make the process achievable and more affordable.
Whether you’re a first-time buyer or looking to expand your portfolio, understanding the available support can help you make a confident, informed decision. Here’s a breakdown of NSW’s key programs and benefits in 2025.
First Home Buyer Assistance Scheme (FHBAS)
Aimed at supporting first-time buyers, the First Home Buyer Assistance Scheme provides:
- Full stamp duty exemption – Available for properties valued at up to $800,000.
- Partial stamp duty concessions – Homes priced between $800,000 and $1 million.
- No transfer duty: No transfer duty applies to vacant land purchases up to $350,000, while land valued between $350,000 and $450,000 receives a discounted rate.
- The scheme applies equally to both new and existing homes.
- Eligibility: Buyers must be 18+, Australian citizens or permanent residents, and have lived in the property for at least 12 continuous months.
First Home Owner Grant (FHOG)
The First Home Owner Grant provides $10,000 in financial assistance for those buying or building a new home.
- Eligibility: The new home must be valued under $600,000, or, If purchasing land and signing a building contract, the total combined value must be under $750,000. Applicants must be 18+, Australian citizens or permanent residents, and first-time property owners in Australia. The property must be lived in for at least 12 continuous months within the first year.
First Home Super Saver Scheme (FHSSS)
The First Home Super Saver Scheme lets first-time buyers save for a home deposit by voluntarily contributing to their superannuation fund, benefiting from potential tax advantages.
Contribution limits: Eligible individuals can make voluntary contributions of up to $15,000 per financial year, up to a maximum of $50,000 over multiple years.
Tax treatment: Concessional contributions are taxed at 15%, lower than most individuals’ marginal tax rates. Upon withdrawal, assessable FHSS amounts receive a 30% tax offset, potentially resulting in a lower tax rate than regular income.
Stamp Duty Concessions for Off-the-Plan Purchases
First-time buyers purchasing off-the-plan properties may be eligible for stamp duty concessions under the First Home Buyer Assistance Scheme.
Eligibility: The property must be intended as the buyer’s primary residence, and applicants must meet the first-home buyer criteria.
Exemptions & Discounts: Full or partial exemptions on transfer duty are available for homes valued up to $1 million.
NSW Government First Home Buyer Digital Savings Plan
The NSW Government offers tools to assist first-home buyers in planning and maximising their savings. Resources are available to help buyers navigate available grants and programs.
Land Tax Exemption for Primary Residences
From 2025, NSW homebuyers who opt into annual land tax instead of paying upfront stamp duty will receive a principal place of residence (PPR) exemption. This means owner-occupiers won’t pay land tax on their home, while investment properties remain taxable.
NSW Regional Relocation Incentive
While this doesn’t directly apply to Sydney, if you’re willing to consider moving out to regional areas, the NSW Regional Relocation Incentive provides $10,000 to eligible skilled workers who relocate to regional NSW for a full-time job. To qualify, applicants must have lived outside regional NSW for at least 12 months before moving and must stay employed for at least one year.
Shared Equity Schemes
The Australian Government has introduced a shared equity scheme to assist eligible homebuyers.
How it works: Under the Help to Buy program, the government may contribute up to 40% of the purchase price for new homes and 30% for existing homes, reducing buyers’ financial burden.
Eligibility: Applicants must be first-time homebuyers, meet specific income criteria (individuals earning less than $90,000 annually or couples earning less than $120,000), and the property price must fall under designated regional caps.
Making the System Work for You
Understanding and leveraging available grants, exemptions, and financial incentives can lower costs and increase purchasing power. Staying informed about eligibility requirements and application deadlines is essential to maximising these benefits.
