First Home Vacant Land Concession
Exciting news for first home buyers in Queensland! From May 1, 2025, the Queensland Government is introducing a full transfer (stamp) duty concession for first home buyers purchasing vacant land*. You'll be able to apply for the concession, potentially reducing the duty to nil* when building your first home.
What Is the First Home Vacant Land Concession?
The First Home Vacant Land Concession is a Queensland Government initiative designed to make homeownership more accessible by reducing upfront costs. From 1 May 2025, eligible first home buyers who enter into a contract to purchase vacant land to build their first home on can apply for a full transfer (stamp) duty concession, reducing the amount payable to nil*. You may be eligible to claim the concession if you meet the required criteria.
Eligibility Criteria
To qualify for this concession, you must:
- Be an Individual Buyer: Purchase the property as an individual, not through a company or trust.
- First-Time Homeowner: Have never held an interest in a residence anywhere in Australia or overseas and have not previously claimed the first home vacant land concession.
- Age Requirement: Be at least 18 years old at the time of purchase.
- Market Value Transaction: Pay market value for the vacant land.
- Construction Timeline: Build your first home on the land and move in with your personal belongings, living there on a daily basis within two years of settlement (this timeframe cannot be extended).
- Single Dwelling: Only build one home on the land.
How Much Can You Save?
From 1 May 2025, if the whole property is residential vacant land, no duty is payable*. You can use the transfer duty estimator or rates for home concession to find out how much duty you may have to pay when you buy vacant land.
How to Apply
To claim the first home vacant land concession:
- Complete the Necessary Forms: Fill out the 'Claim for transfer duty concession: first home vacant land (Form D2.7)' and the 'Identity details annexure' for each non-Australian transferor and transferee.
- Prepare Supporting Documents: Include your contract and valuation (if required), along with Form 1 Transfer and Form 24 from Titles Queensland.
- Lodge Your Application: Submit all documents for stamping, ensuring you include a covering letter with your contact details.
Important Considerations
- Foreign Buyers: Additional foreign acquirer duty may apply if you are a foreign person.
- Age Exceptions: If you're under 18, you can apply for an exception to the age requirement, assessed on a case-by-case basis.
- Compliance: Ensure you meet all eligibility criteria to avoid reassessment and potential penalties.
Take advantage of this opportunity to make your dream of homeownership a reality. Check your eligibility and begin the application process now > https://qro.qld.gov.au/duties/transfer-duty/concessions/homes/first-home-vacant-land/
Please note: The information provided is based on current legislation and is subject to change. Always refer to the Queensland Revenue Office for the most up-to-date information.
*Buyers may be eligible to receive from the QLD State Government the full transfer (stamp) duty concession. Not a Stockland promotion. Eligibility and other restrictions apply. Stockland does not accept any liability with regard to the First Home Vacant Land Concession offered by the Queensland Government. For more information and full terms and conditions click here.