Differences between common duty exemptions and concessions and the first home owner grant

When you buy or build your first home valued at $750,000 or less and it is the first time it is sold as residential premises.

The FHOG is not available for established homes (unless your purchase was before 1 July 2013).

The regional FHOG is available for contracts entered into on or after 1 July 2017 and no later than 30 June 2020. Homes located in regional Victoria receive a FHOG of $20,000 (as opposed to $10,000).

The contract for the transfer of the property must be entered into on or after 1 July 2017.

Contracts signed before 1 July 2017 may attract the first-home buyer duty reduction.

The contract for the transfer of the property must be entered into before
1 July 2017.

Contracts signed after 1 July 2017 may attract the first-home buyer duty exemption or concession.

The home must be a new, not established, home. This means it must be:

• the first sale of a newly built residential property,
• the first sale of a property converted into a residential property, such as a warehouse conversion, or
• a new property you have built.

Your home can be new or established.

Your home can be new or established.

Your home can be new or established.

It does not need to be your first home.

No

No

No

Yes

At least one owner must live in the property as their principal place of residence for at least 12 continuous months starting from within 12 months of the transfer date (usually at settlement or the completion of your new home).

Note: Certain Australian Defence Force personnel who are enrolled to vote in Victorian elections and are either on duty or leave are exempt from the residency requirement.

At least one owner must live in the property as their principal place of residence for at least 12 continuous months starting from within 12 months of the transfer date (usually at settlement or the completion of your new home).

At least one owner must live in the property as their principal place of residence for at least 12 continuous months starting from within 12 months of the transfer date (usually at settlement or the completion of your new home).

At least one owner must live in the property as their principal place of residence for at least 12 continuous months starting from within 12 months of the transfer date (usually at settlement or the completion of your new home).

Yes, if the Commissioner of State Revenue is satisfied there is good reason for doing so.

The residency requirement cannot be waived entirely.

Yes, if the Commissioner of State Revenue is satisfied there is good reason for doing so.

The residency requirement cannot be waived entirely.

Yes, if the Commissioner of State Revenue is satisfied there is good reason for doing so.

The residency requirement cannot be waived entirely.

Yes, if the Commissioner of State Revenue is satisfied there is good reason for doing so.

The residency requirement cannot be waived entirely.

You have 14 days to notify us and repay the grant.

If you fail to notify us, you may receive a penalty.

You have 30 days to notify us. We will reassess the duty payable and send you an assessment notice.

If you fail to notify us, you may receive a penalty.

You have 30 days to notify us. We will reassess the duty payable and send you an assessment notice.

If you fail to notify us, you may receive a penalty.

You have 30 days to notify us. We will reassess the duty payable and send you an assessment notice.

If you fail to notify us, you may receive a penalty.

You have 14 days to notify us and repay the grant.

If you fail to notify us, you may receive a penalty.

You have 30 days to notify us. We will reassess the duty payable and send you an assessment notice.

If you fail to notify us, you may receive a penalty.

You have 30 days to notify us. We will reassess the duty payable and send you an assessment notice.

If you fail to notify us, you may receive a penalty.

You have 30 days to notify us. We will reassess the duty payable and send you an assessment notice.

If you fail to notify us, you may receive a penalty.

You still get the FHOG if you use the property as your principal place of residence within 12 months of settlement (or completion of construction), for at least 12 continuous months.

You still get the duty exemption/concession if you use the property as your principal place of residence within 12 months of settlement, for at least 12 continuous months.

You still get the reduction if you use the property as your principal place of residence within 12 months of settlement, for at least 12 continuous months.

You still get the concession if you use the property as your principal place of residence within 12 months of settlement, for at least 12 continuous months.

The purchase price cannot exceed $750,000.

Exemption – the dutiable value must not exceed $600,000.

Concession – the dutiable value exceeds $600,000 but must not exceed $750,000.

The dutiable value must be more than $130,000 but not exceed $600,000.

The dutiable value must be more than $130,000 but not exceed $550,000.

Complete and lodge an application (FHOG Form 02) with the required supporting documents.

Apply using the digital duties form.

Apply using the digital duties form.

Apply using the digital duties form.

Within 12 months of the eligible transaction, which is usually settlement date or date construction of your new home completed.

At the time the transfer is being assessed for duty.

Duty is usually payable 30 days from settlement (although if you are entitled to an exemption, you will not have to pay duty).

At the time the transfer is being assessed for duty.

Duty is usually payable 30 days from settlement.

At the time the transfer is being assessed for duty.

Duty is usually payable 30 days from settlement.

Neither of you are entitled to receive the FHOG again.

This is the case even if you were not with your spouse/partner when the FHOG was previously received.

Neither of you are entitled to receive the exemption or concession again.

This is the case even if you were not with your spouse/partner when the exemption or concession was previously received.

Neither of you are entitled to receive the duty reduction again.

This is the case even if you were not with your spouse/partner when the duty reduction was previously received.

You may still be entitled to the principal place of residence concession.

Neither of you are eligible for the FHOG even if you were not together at the time the property was purchased.

Neither of you are eligible for the duty exemption or concession, even if you were not together at the time that the residential property was purchased.

Neither of you are eligible for the duty reduction, even if you were not together at the time that the residential property was purchased.

You may still be entitled to the Principal place of residence concession.

You may still be entitled to the FHOG on the purchase of another home.

You may still be entitled to the duty exemption or concession on the purchase of another home.

You may still be entitled to the duty reduction on the purchase of another home.

You may still be entitled to the Principal place of residence concession.

You and your spouse/partner are not entitled to the FHOG on the purchase of another home.

You and your spouse/partner are not entitled to the duty exemption or concession on the purchase of another home.

You and your spouse/partner are not entitled to the duty reduction on the purchase of another home.

You may still be entitled to the principal place of residence concession.

No, because the purchase price exceeds $750,000.

Exemption – Yes, because dutiable value does not exceed $600,000, provided the FHOG requirements (other than the requirement to be a new home) are met.

Concession – Not relevant because the exemption applies.

No, because the purchase price exceeds $750,000.

For this reduction, the FHOG cap applied.

Yes, because the dutiable value does not exceed $550,000.

Yes, because the purchase price is less than $750,000 and provided the other FHOG requirements are met.

Exemption – Yes, because dutiable value does not exceed $600,000, provided the FHOG requirements (other than the requirement to be a new home) are met.

Concession – Not relevant because the exemption applies.

Yes, because dutiable value does not exceed $600,000 and provided the other FHOG requirements are met.

Yes, because the dutiable value does not exceed $550,000.

Yes, because property is new and purchase price does not exceed $750,000 and provided the other FHOG requirements are met.

Exemption – No, because the dutiable value exceeds $600,000.

Concession – Yes, because the dutiable value does not exceed $750,000 and provided the other FHOG requirements are met.

No, because the dutiable value exceeds $600,000.

No, because the dutiable value exceeds $550,000.

No, because property is established and not new.

Exemption – No, because the dutiable value exceeds $600,000.

Concession – Yes, because the dutiable value does not exceed $750,000 and provided the other FHOG requirements are met.

No, because dutiable value exceeds $600,000.

No, because dutiable value exceeds $550,000.

No, because property is established and not new.

Exemption – Yes, because dutiable value does not exceed $600,000, provided the FHOG requirements (other than the requirement to be a new home) are met.

Concession – Not relevant because the exemption applies.

Yes, because dutiable value does not exceed $600,000 provided the FHOG requirements (other than the requirement to be a new home) are met.

No, because dutiable value exceeds $550,000.

No, because property is established and not new.

Yes, because dutiable value does not exceed $600,000, provided the FHOG requirements (other than the requirement to be a new home) are met.

Yes, because dutiable value does not exceed $600,000, provided the FHOG requirements (other than the requirement to be a new home) are met.

Yes, because dutiable value does not exceed $550,000.