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Queensland first-home concession and the 2025 reform

Queensland’s first home buyer stamp duty concession underwent meaningful reform effective mid-2024, expanding the thresholds and tapering structure. For first home buyers transacting from 2025 onwards, the effective benefit is significantly larger than before.

Post-reform thresholds (effective from June 2024)

  • Up to $700,000: nil stamp duty on established property (the Full Transfer Duty Concession)
  • $700,001 to $800,000: concessional rate, tapering
  • Above $800,000: reduced concession applies
  • For vacant land: no duty up to $350,000, tapering to $500,000

This is a substantial uplift from the previous caps ($500k / $550k). Queensland first home buyers now have the most generous concession structure among the eastern states measured by property price threshold.

The reform context

QLD’s old concession topped out at $500k - a threshold set in 2008 that had not kept pace with housing prices. By 2023, fewer than 15% of actual first home buyer purchases qualified under the old $500k cap. The 2024 reform aligned the concession with the realistic market.

How it stacks with QLD FHOG

Queensland has a separate $30,000 FHOG (for purchases contracted to 30 June 2026) for buyers of new or off-the-plan dwellings up to $750,000. This $30k stacks with the stamp duty concession.

Example: a new apartment at $650k attracts:

  • Stamp duty concession: ~$17k (zero duty up to $700k threshold)
  • FHOG: $30k
  • First Home Guarantee (if income-qualified): no LMI
  • FHSSS: up to $50k super withdrawal

Combined benefit approaches $80k-$100k on a $650k first home purchase.

Residence requirement

You must reside in the property as principal place of residence for at least 12 months, starting within 12 months of settlement. The Queensland Office of State Revenue enforces this; an audit-initiated claw-back includes penalty interest.

Partial transfer duty concession

Even for properties above $800,000 where the full concession doesn’t apply, a “partial first home concession” can apply under specific circumstances (established property bought as first home, retaining personal occupancy). This usually reduces duty by $5k-$10k, and is worth asking your conveyancer to apply for if relevant.

Comparison across eastern states for a $700k purchase

  • NSW: Zero duty (concession applies to $800k)
  • VIC: ~$16k duty (cap of $750k; partial concession applies)
  • QLD: Zero duty (concession applies to $700k)

For first home buyers considering interstate purchase, QLD and NSW are broadly equivalent for purchases at or below $700k. NSW edges ahead on the $700k-$800k band.

Where QLD lead-outs catch people

  • Purchase contract signed before the reform date but settling after: the reform applies to contracts signed from the reform commencement, not settlement date. Timing matters.
  • Property type: vacant land has separate concession thresholds. Off-the-plan apartments count as “new dwelling” and attract the FHOG as well.
  • Investor retention issues: if you lived in the property for 11 months then decided to rent it out, the concession claws back. Plan for a full 12 months’ residence.