For contracts exchanged on or after 1 April 2022, there is no stamp duty on off-the-plan unit (unit-titled apartment and townhouses) owner occupier purchases valued at $600,000 or less.

Eligibility requirements include:

• Contracts must be signed and exchanged on or after 1 April 2022
• At least one buyer must live in the home continuously for at least one year, starting within 12 months of the date of completion (settlement date) of the off the plan agreement

This scheme allows eligible ACT first-home buyers to purchase a new or existing home and pay no stamp duty, saving up to a maximum $34,790 in duty payable.

All properties in the ACT are eligible for this scheme and it applies to vacant residential land, and both new and established homes, anywhere in the ACT and at any price.

• All buyers of the home or land must be individuals of at least 18 years old.
• The total gross income of all buyers, including their partners (if any) must not be greater than the relevant income threshold of $170,000 for the 2023 financial year and $160,000 for the 2022 financial year.
• All buyers including their partners (if any) must not have owned any other property in the last two years.
• At least one buyer must live in the home continuously for at least one year, starting within 12 months of the date of completion (settlement date) or the date that a certificate of occupancy has been issued.

The Regional First Home Buyer Support Scheme may help 10,000Australians a year who are living in regional areas buy their first home with at least a 5% deposit.

It means that First Home Buyers can buy a home with a deposit as low as 5% and the government will guarantee the other 15%. This means that borrowers can avoid paying Lenders Mortgage Insurance (LMI) and save thousands. The scheme is available from January 2023.

The income cap for singles is $125,000 and couples is$200,000. Price Caps for your purchase price vary between Regions and are available online via the link below.

This initiative aims to help eligible single parents with dependents purchase a family home sooner rather than later. Under the scheme, single parents can buy a home with just a 2% deposit without paying Lenders Mortgage Insurance.

The Family Home Guarantee is available through the financial year 2025. This scheme originally offered 10,000 total places spread across four years. The government has now added 5000 new places each year, from 1 July 2022 to 30 June 2025.

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This scheme allows eligible first-home buyers to purchase anew or existing home with a deposit of just 5%, without paying tens of thousands of dollars in Lenders Mortgage Insurance (LMI).

The scheme will now have 35,000 places each financial year, beginning from 1 July 2022. The best chance to secure a place in the scheme is to have your tax return completed as soon as possible. To apply, you will need to have your most recent Notice of Assessment from the Australian Taxation Office (ATO).

The income cap for singles is $125,000 and couples is $200,000.