First Home

In Australia, most first-time home buyers are eligible for some form of allowance, especially when purchasing an off-plan property. The first home allowance varies by state.

Conditions:

• Must be an Australian citizen or permanent resident.
• The buyer must not have previously purchased any property in Australia.
• The property must be newly established.
• The property cannot be purchased under a company name.
• The buyer must live in the house for six consecutive months within the first year of purchase.
• The application must be submitted within 12 months of the transaction.
• Each applicant can only apply once for one property.

What is the Stamp Duty Reduction Policy? Many new immigrants are aware of the first home buyer allowance, and policies are updated annually. The stamp duty reduction is one of these policies.