Stamp Duty abolished for eligible first home buyers of new homes

In the 2023-2024 State Budget, first homes buyers will benefit from the abolition of stamp duty on new homes valued up to $650,000 or vacant land valued up to $400,000 to build a new home.  The Budget retains the existing First Home Owner Grant, increasing its property value cap from $575,000 to $650,000.  This is available to eligible first home buyers who enter into a contract on or after 15 June 2023 to build or buy a new home.