What first home buyer schemes are available in Australia — FHOG, FHSS, and stamp duty concessions?

Three main federal and state mechanisms assist first home buyers in Australia:

First Home Owner Grant (FHOG): A state-funded one-off grant for buying or building a new home. Amounts vary by state, typically $10,000 to $30,000. The grant is only for new homes (not established properties in most states) and has property price caps. FHOG is not taxable income.

First Home Super Saver Scheme (FHSS): A federal scheme allowing you to make voluntary concessional or non-concessional contributions to super and then withdraw them for a home deposit. You can withdraw up to $50,000 in total (and associated earnings). Concessional contributions made for FHSS purposes are taxed at 15% inside super rather than your marginal rate, generating a tax saving. Withdrawals are taxed at your marginal rate minus a 30% tax offset. To access the scheme, you must apply to the ATO for a 'determination' before signing a contract.

Stamp duty concessions: All states offer first home buyer stamp duty exemptions or concessions. In NSW, properties up to $800,000 receive a full exemption; between $800,000 and $1,000,000 a partial concession applies. Thresholds differ across states. Many states also have a first home buyer choice in NSW allowing you to pay annual property tax instead of lump sum stamp duty on properties up to $1.5m.